Question
Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how
Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how much of this value is from contributions and how much is from interest.
R=9,100; 8% interest compounded semiannually for 6 years.
How do I fill in the blanks? I tried solving the formula and I'm missing something. I keep getting the answer wrong. Please help me solve this and explain the steps please.
The future value of the ordinary annuity is?
The amount from contributions is Blank and the amount from interest is $ Blank.
For the following amount at the given interest rate compounded continuously, find (a) the future value after 9 years, (b) the effective rate, and (c) the time to reach $20,0 $5800 at 3.4% a. The future value after 9 years is approximately $ (Do not round until the final answer. Then round to the nearest cent as needed.) The future value of the ordinary annuity is $ (Round to the nearest cent as needed.) The amount from contributions is $ and the amount from interest is (Round to the nearest cent as needed.)Step by Step Solution
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