Future Value of Annuity Payments Blooper Corporation plans to make a deposit at the end of each
Question:
Future Value of Annuity Payments Blooper Corporation plans to make a deposit at the end of each year into its retirement fund. Compute the amount that will be available at the end of the contribution periods for each of the following:
a. $32,000 deposited annually for 8 years, with an annual interest rate of 11 percent.
b. $42,000 deposited annually for 8 years, with an annual interest rate of 8 percent.
c. $15,000 deposited annually for 14 years, with an annual interest rate of 15 percent.
d. $10,000 deposited annually for 19 years, with an annual interest rate of 6 percent
e. $45,000 deposited annually for 30 years, with an annual interest rate of 4 percent.
Step by Step Answer:
Financial Accounting A Decision Making Approach
ISBN: 9780471328230
2nd Edition
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith