Future Value of an Annuity for Various Compounding Periods
Find the future values of the following ordinary annuities:
Future value of annuity= payment per period * [(1+i)^n-1]/i
i = interest rate per period
n = number of periods
=>
a)
Future value = 800 * [(1+0.12/2)^14 - 1]/(0.12/2)
= 16812.05
b)
Future value = 400 * [(1+0.12/4)^28 - 1]/(0.12/4)
= 17172.37
Future Value of an Annuity for Various Compounding Periods Find the future values of the following...
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