Question
Can someone help me with the below question? I'm not sure if for calculating the FVAF I should use t of 120 (12*10) or of
Can someone help me with the below question? I'm not sure if for calculating the FVAF I should use "t" of 120 (12*10) or of 10 (years). Please help!
Future value annuity factor (FVAF) = ((1 + r)t - 1) / r
This question consists of four main parts. When performing the calculations, keep as many decimal places as you can for intermediate answers, but round your final answers to two decimal places.
a.If you save $200 per month for 10 years at 12% annual percentage rate with monthly compounding:
i.what is the future value annuity factor?
ii.what is the future value?
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Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
