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I. Find the annual payments for an ordinary annuity and an annuity due for 12 years with a PV of $1,000 and an interest rate
I. Find the annual payments for an ordinary annuity and an annuity due for 12 years with a PV of $1,000 and an interest rate of 8%. Round your answers to the nearest cent.
Annual payment for ordinary annuity: | $ fill in the blank 31 |
Annual payment for annuity due: |
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J. Find the PV and the FV of an investment that makes the following end-of-year payments. The interest rate is 8%.
Year | Payment |
1 | $100 |
2 | $300 |
3 | $400 |
Round your answers to the nearest cent.
PV of investment: $ fill in the blank 33 FV of investment: $ fill in the blank 34
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