View the step-by-step solution to:

Future value of an annuity. For the case below answer the questions that follow:

This question was answered on Jan 27, 2013. View the Answer
Future value of an annuity. For the case below answer the questions that follow:
amount of annuity $3500
interest rate 10%

Show all work including formula and answer
deposit period 8 years

calculate the future value of the annuity assuming that it is
1. an ordinary annuity
2. an annuity due
Sign up to view the entire interaction

Top Answer

Hi Student, please find... View the full answer

8424657.docx

Answer
Amount of annuity
$3500
Interest rate
10% i.e..1
No. of Years
8
Calculate the future value of the annuity assuming that it is
1. An ordinary annuity
Future Value = C *
i
= $3,500
.1
= $3,500...

This question was asked on Jan 26, 2013 and answered on Jan 27, 2013.

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • -

    Flashcards

    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards