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13. What is the future value of a 5-year ordinary annuity with annual payments of $200, evaluated at a 15 percent interest rate? a. $670.44
13. What is the future value of a 5-year ordinary annuity with annual payments of $200, evaluated at a 15 percent interest rate? a. $670.44 b. $842.91 c. $1,169.56 d. $1,522.64 e. $1,348.48 14. If you buy a factory for $250,000 and the terms are 20 percent down, the balance to be paid off over 30 years at a 12 percent rate of interest on the unpaid balance, what are the 30 equal annual payments each? a. $20,593 b. $31,036 c. $24,829 d. $50,212 e. $6,667
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