5.14

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Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent.

1. $800 per year for 16 years at 10%.

   $

2. $400 per year for 8 years at 5%.

   $

3. $900 per year for 8 years at 0%.

   $

4. Rework parts a, b, and c assuming they are annuities due.

   Future value of $800 per year for 16 years at 10%: $

   Future value of $400 per year for 8 years at 5%: $

   Future value of $900 per year for 8 years at 0%: $