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FVA = PMT((1+(r/12)~t(12))-1)/(r/12) PVA = PMT((1-(1+(r/12))^-t(12)))/(r/12) Using the formulas above, calculate the following 1) What is the future value of annuity that has MONTHLY payments

FVA = PMT((1+(r/12)~t(12))-1)/(r/12) PVA = PMT((1-(1+(r/12))^-t(12)))/(r/12) Using the formulas above, calculate the following 1) What is the future value of annuity that has MONTHLY payments of $600 for 5 years if the annual interest rate is 7%

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