Calculate the future value of the following annuities, assuming each annuity payment is made at the end of each compounding period. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)
Homework Answers
Calculate future value of annuity
| Annuity payment | Annual rate | interest compounded | Period invested | future value of annuity | |
| 1. | 3000 | 7% | Annually | 6 year | 7.15329*3000 = 21459.87 |
| 2 | 6000 | 8% | Semiannually | 9 years | 25.64541*6000 = 153872.46 |
| 3 | 5000 | 12% | Quarterly | 5 years | 26.87037*5000 = 134351.85 |
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