Question
Calculate the future value of the following annuity streams: a. $5,000 received each year for five years on the last day of each year if
Calculate the future value of the following annuity streams:
a. $5,000 received each year for five years on the last day of each year if your investments pay 6 percent compounded annually.
b. $5,000 received each quarter for five years on the last day of each quarter if your investments pay 6 percent compounded quarterly.
c. $5,000 received semi-annually for five years on the last day of each half a year if your investments pay 6 percent compounded semi-annually.
d. $5,000 received each month for five years on the last day of each month if your investments pay 6 percent compounded monthly.
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Investments Analysis and Management
Authors: Charles P. Jones
12th edition
978-1118475904, 1118475909, 1118363299, 978-1118363294
