Question

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.

1. $600 per year for 6 years at 16%.

   $  

2. $300 per year for 3 years at 8%.

   $  

3. $400 per year for 10 years at 0%.

   $  

   Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.

4. $600 per year for 6 years at 16%.

   $  

5. $300 per year for 3 years at 8%.

   $  

6. $400 per year for 10 years at 0%.

   $  

Answer 1