Use Table 12-1 to calculate the future value (in $) of the ordinary annuity. (Round your answer to the nearest cent.)

Annuity Payment Payment Frequency Time Period (years) Nominal Rate (%) Interest Compounded

$7,500 every 6 months 5 4 semiannually

Future Value of the Annuity

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12-1 Future Value (Amount) of an Ordinary Annuity of The values in Table 12-1 were generated by the formula (1 + i)n 1 i and rounded to five decimal places, where i is the interest rate per period and n is the total number of periods.