Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.) If the future value of an ordinary, 8-year annuity is $7,300 and interest rates are 8.0 percent, what is the future value of the
1.) If the future value of an ordinary, 8-year annuity is $7,300 and interest rates are 8.0 percent, what is the future value of the same annuity due? (Round your answer to 2 decimal places.)
Future Value? $______
2.) What is the future value of a $860 annuity payment over six years if interest rates are 10 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Future value | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started