Find the future value of the following ordinary simple annuity. Periodic Payment Payment Interval Term Interest...

Question

Question

Find the future value of the following

ordinary

simple

annuity.

Periodic Payment	Payment Interval	Term	Interest Rate	Conversion Period
$444.00444.00	3 months3 months	3.753.75 years	77 %	quarterlyquarterly

Answer 1

Answer #1

Future Value=Periodic Payment/(rate/4)*((1+Rate/4)^(4*t)-1)=444/(7%/4)*((1+7%/4)^(4*3.75)-1)=7541.09551

Answer 2

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