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alculate the future value of the following ordinary simple annuities. Round the answers to the nearest cent Periodic Payment Payment Period Term of Annuity Interest
alculate the future value of the following ordinary simple annuities.
Round the answers to the nearest cent
Periodic Payment | Payment Period | Term of Annuity | Interest Rate | Compounding Frequency | Future Value |
---|---|---|---|---|---|
1. $1,275 | Every 3 months | 7 years | 3.50% | Quarterly |
|
2. $2,625 | Every month | 6 years | 2.50% | Monthly |
|
3. $3,075 | Every 6 months | 5 years | 5.50% | Semi-annually |
|
4. $2,100 | Every year | 8 years | 5.50% | Annually |
|
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