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The following table describes the characteristics of five annuities: E. Calculate the future value of each annuity given its characteristics. The future value, FV, on
The following table describes the characteristics of five annuities: E. Calculate the future value of each annuity given its characteristics. The future value, FV, on the annuity at the end of the deposit period for Deposit A is $ . (Round to the nearest cent.) i Data Table 4% Annual Annuity Interest Annuity Deposit Payment Rate Length (yr) $2,200 $800 6% $1,300 8% $12,400 9% $4,100 15% (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) mo Congratulations, you have won the lottery! Would you rather have $80 million, spread out in 14 annual payments of $4 million, with the first payment coming one year from now, or $53.50 million paid out as a lump sum today? (Assume a discount rate of 9.2%.) The present value, PV, of the $4 million at the end of each of the next 14 years is $ . (Round to the nearest cent.)
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