What is the future value of a series of cash payments of $2000 over a period...
What is the future value of a series of cash payments of $2000 over a period of 8 years, with the first payment deferred until year 4 an an interest rate of 12% compounded quarterly?
Homework Answers
Ans $ 105005.52
| P = | Periodic payments |
| r = | rate of interest |
| n = | no of years |
| Future Value of Annuity = | P ( (1 + r)n - 1 ) / r |
| Future Value of Annuity = | 2000* ((1 + 12%/4)^32 - 1) / (12%/4) |
| 105005.52 | |
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