Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity) However, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due) What is the future value of a 15-year annuity of S1,600 per period where payments come at the beginning of each period? The interest rate is 9 percent Use Appendix for an approximate answer but calculate your final answer using the formula and financial calculator methods. To find the future value of an annuity due when using the Appendix tables, add 1 to n and subtract 1 from the tabular value For example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to Appendix Cfor n=6 and 7-10 percent Look up the value of 7716 and subtract from it for an answer of 6716 or $67160 15100 6716). (Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Future value Appendixc Future value of an annuty of $1, IVA 4 - -4 [+2p1 TVA penda 1 Percent 6% 10% 1952 2 3 4 5 8% 1.000 2.080 3246 LOG 5.867 7776 8.923 10.5 12 6 7 8 9 10 11 12 13 14 15 16 17 19 10 20 25 30 40 50 1 1.000 2010 3030 4.060 5.101 6.152 7214 8.286 9369 10462 11.557 12683 13.809 14047 16.097 17258 18.430 19515 20,891 22019 28243 24.785 43886 54.463 246 1.000 2020 3.060 4.122 5.204 6.308 7434 8,583 9.755 10.950 12. 169 13.412 14.680 15. 974 17.293 19.629 20.012 21.412 22.841 20.297 32030 10.588 60402 34.579 3% 1.000 2.030 3.091 4.184 5 309 6.468 7.662 8.892 10.159 11464 12.808 14. 192 15518 17086 18,599 20.157 21.752 23.414 25.117 26.870 36.450 47525 25.401 112.80 4% 1.000 2.040 3.122 4246 5.416 6,633 7 898 9214 10.583 12006 12486 15.026 16.627 18.292 20.024 21.825 23.698 25.645 27571 29.778 41 646 56085 95026 15261 1.000 2050 3.153 4.310 5.526 6.802 8.142 9.549 11.027 12578 14.207 15.912 17.713 19.500 21.579 22.667 25.840 29.132 30530 32.066 47 722 6649 12080 209135 1.000 2060 3.184 4.375 5.637 6.975 8.394 9.892 11.491 13.181 14.922 16.870 18.882 21015 23.276 25.672 28213 30.906 33.760 36.786 5486 79.008 15476 290.24 1,000 2070 3.215 40 5.751 7153 8.65 10.260 1197 13 810 15.74 17888 20:11 122550 25.129 27.88 3080 22.990 37379 40.995 63.249 94461 109.64 106.52 18977 2140 22 22/12 201224 12750 37450 41415 45.72 73106 113.28 259.06 5737 95 1.000 2030 3278 4573 5.085 7.522 9 200 11028 13021 15190 17560 2014 22952 26010 29.361 32003 76.97 41.301 16018 51160 84701 13631 33789 815.08 1.000 1.000 2.100 2.110 3310 3.342 4.641 4.710 6.105 6228 7.716 7912 9487 9.783 11.436 11.859 13.579 14.164 15,937 16.722 182521 19.561 21384 22713 26523 260212 27.975 30.095 31.772 34405 35950 39. 190 40.545 501 45.699 50.296 51.159 56.939 57.275 54203 98 347 11441 1649 199.02 44250 58183 1.1619 1.6688
