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Exercise 5-18 (Algo) Solving for unknowns; annuities [LO5-9] For each of the following situations involving annuities, solve for the unknown. Assume that interest is
Exercise 5-18 (Algo) Solving for unknowns; annuities [LO5-9] For each of the following situations involving annuities, solve for the unknown. Assume that interest is compounded annually and that all annuity amounts are received at the end of each period. (interest rate, and n= number of years) Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1. PV of $1. FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) Present Value Annuity Amount n = 1. $ 3,600 8% 5 2. 412,566 115,000 4 3. 748,673 130,000 10% 4. 580,000 83,427 9 5. 210,000 10% 4
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