Question
future value of an annuityUsing the values below, answer the questions that follow. Amount of annuity Interest rate Deposit period (years) $6, 000 4% 6yrs
future value of an annuityUsing the values below, answer the questions that follow.
| Amount of annuity | Interest rate | Deposit period (years) |
|
| $6, 000 4% 6yrs |
|
|
|
Calculate the future value of the annuity, assuming that it is
(1) An ordinary annuity.
(1) What is the future value of the ordinary annuity?
$__________
(Round to the nearest cent.)
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The Economics Of Money Banking And Finance
Authors: Peter Howells, Keith Bain
2nd Edition
0273651080, 978-0273651086
