If you start making $215 monthly contributions today and continue them for four years, what is...
If you start making $215 monthly contributions today and continue them for four years, what is their future value if the compounding rate is 11.75 percent APR? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value annuity $_____
What is the present value of this annuity? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present Value Annuity $____
Homework Answers
Monthly compounding rate = 11.75%/12 = 0.009791666667= 0.9791666667%
n = 4 * 12 = 48 payments
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