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1. Calculate the future value of a 23-year annuity with payments of $9,000 each year and...

1. Calculate the future value of a 23-year annuity with payments of $9,000 each year and an interest rate of 9% compounded annually. Round your answer to the nearest cent.

2. An annuity consists of quarterly payments of $1,500 each for 10 years at an interest rate of 6% compounded quarterly. Compute the future value of the annuity. Round your answer to the nearest cent.

3. Calculate the amount of each monthly payment in a 1-year annuity that has a future value of $8,000 and an interest rate of 9% compounded monthly. Round your answer to the nearest cent.
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Answer #1

Solutions FV = [ (1879?-1] ere p = $9000 r = 9% n = 23 FV = 9000/(1+.09723-17 2 .09 ... 9000 (69.5319) = $625,787.45 Solution

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