n = (number of years) x (m) Finding number of compound periods Chapter 11: Simple Ordinary Annuity n = (number of years) x (# of payments per year) n FVn = PMT ((1+i) - 1) Finding the Future Value of an Ordinary Simple Annuity n PVn = PMT (1- (1+i)_) Finding the Present Value of an Ordinary Simple Annuity or 12- General Ordinary Annuity1) An annuity will have $1,000 end of quarter payments (deposits) over 20 years, with an interest rate of 7% compounded quarterly Determine: (4 marks-Chl1) a. The Future Value (FV) of the Annuity in 20 years-how much total in 20 years (2) b. The total amount deposited into the account before interest (1) c. The amount of interest included (or earned) in the Future Value in part "a" (1)