FUTURE VALUE OF AN ANNUITY

Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.

1. $1,000 per year for 16 years at 16%.

   $

2. $500 per year for 8 years at 8%.

   $

3. $500 per year for 14 years at 0%.

   $

   Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.

4. $1,000 per year for 16 years at 16%.

   $

5. $500 per year for 8 years at 8%.

   $

6. $500 per year for 14 years at 0%.

   $