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Calculate the future value of the following ordinary simple annuities. Round the answers to the nearest cent Periodic Payment Payment Period Term of Annuity Interest
Calculate 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. $1,300 | Every 3 months | 7 years | 3.50% | Quarterly |
|
| 2. $2,950 | Every month | 6 years | 1.50% | Monthly |
|
| 3. $1,700 | Every 6 months | 5 years | 4.75% | Semi-annually |
|
| 4. $2,725 | Every year | 8 years | 5.50% | Annually |
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Fundamentals Of Financial Management
Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston
11th Edition
1111795207, 9781111795207
