3. Find the future value of an ordinary annuity involving deposits of $300 per month at...
Find the future value of the ordinary annuity rounded to the nearest cent. If Bob deposits $5000 at the end of each year for 9 years in an account paying 6% interest compounded annually, find the amount he will have on deposit.
1.Future Value: Ordinary Annuity versus Annuity Due What is the future value of a 3%, 5-year ordinary annuity that pays $250 each year? Round your answer to the nearest cent. $ If this were an annuity due, what would its future value be? Round your answer to the nearest cent. $ 2. Present and Future Value of an Uneven Cash Flow Stream An investment will pay $100 at the end of each of the next 3 years, $400 at the...
Future Value of Multiple Annuities Assume that you contribute $220 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $320 per month for another 20 years. Given a 7.0 percent interest rate, what is the value of your retirement plan after 40 years? $178,636 $177,600 $629,552 $577,459 Present Value of an Annuity Due If the present value of an ordinary, 3-year annuity is $5,900 and interest rates are 12 percent, what's...
Future value of an annuity Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent. $600 per year for 6 years at 16%. $ $300 per year for 3 years at 8%. $ $400 per year for 10 years at 0%. $ Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent. $600 per year for 6 years at 16%. $ $300 per year...
Find the future value of an ordinary annuity of $4,000 paid quarterly for 3 years, if the interest rate is 7%, compounded quarterly. (Round your answer to the nearest cent.)
FUTURE VALUE OF AN ANNUITY Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent. a. $600 per year for 8 years at 16%. b. $300 per year for 4 years at 8%. c. $600 per year for 12 years at 0%. Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent. d, $600 per year for 8 years at 16%. e. $300 per...
What is the future value of an 8 year ordinary annuity with an annual payment of $600 if the interest rate is 13.5%? What is the present value of a 17 year ordinary annuity with an annual payment of $216,000 if the opportunity cost rate is 15.2%? An ordinary annuity pays $16,375 per year for 9 years. If you pay $100,000 for this annuity now, what rate of return (interest rate) will you earn? A 22 year...
4. (a) What is the future value of a 3-year ordinary annuity (recall that ordinary annuities have end of year cash flows) of $200 if the appropriate interest rate is 12%? (1 point) (b) What is the present value of the annuity? (1 point) (c) What would the future and present values be if the annuity were an annuity due (beginning of year cash flows)? Hint, set your calculator to BGN, there is a video in M2 that shows you...
The future value of an ordinary annuity stream of $185 periodic payment per year is $982.19 when valued at a 3% rate. By approximately how much would the future value change if this is annuity due and interest rate remains at 3%?
Find the future value for the ordinary annuity with the given payment and interest rate SER payment is $850; 1.80% compounded semiannually for 2 years. The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.).