What is the future value of an annuity due that promises $60,000 per year for...

Question

Question

What is the future value of an annuity due that promises $60,000 per year for 10 years if the appropriate interest rate is 4%?

Answer 1

Answer #1

The solution to the given question is provided below:

Future value of annuity due=60000/4%*(1-1/1.04^10)*1.04^11=749181.08

Answer 2

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