Homework Answers
Here we have to calculate the future value of annuity in each case.
therefore,
| Amount of investment | FVAF(i, n) | Value at the end of the period |
|---|---|---|
| $8000 | FVAF(20%, 15) = 72.03511 | $576280.88 |
| $12000 | FVAF(15%, 10) = 20.30372 | $243644.64 |
| $15500 | FVAF(12%, 5) = 6.35285 | $98469.175 |
| $35500 | FVAF(10%, 2) = 2.10000 | $74550 |
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