1 Find the future value of an ordinary annuity of $80 paid quarterly for 3 years, if the interest rate is 8 , compounded quarterly 2 Find the future value of an ordinary annuity of $300 paid quarterly for 5 years, if the interest rate is 12 , compounded quarterly ...

1. Find the future value of an ordinary annuity of $80 paid quarterly for 3 years, if...

Question:

1. Find the of an ordinary of $80 paid quarterly for 3 years, if the interest rate is 8%, compounded quarterly?
2. Find the of an ordinary of $300 paid quarterly for 5 years, if the interest rate is 12%, compounded quarterly?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...