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Future Value of an Annuity for Various Compounding Periods Find the future values of the following ordinary annuities: FV of $800 paid each 6 months
Future Value of an Annuity for Various Compounding Periods
Find the future values of the following ordinary annuities:
- FV of $800 paid each 6 months for 7 years at a nominal rate of 12%, compounded semiannually. Round your answer to the nearest cent. $
- FV of $400 paid each 3 months for 7 years at a nominal rate of 12%, compounded quarterly. Round your answer to the nearest cent. $
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