Uver the next five yea D K 6 H What is the Future Value of a $500 Monthly Annuity Payment received over the next five years at a 10% discount rate? The Annuity Payment is paid at the beginning of the month. 2 Formula: FV(Interest Rate, Number of Payments, Annuity Payment) 3 4 5 Annuity Payment: Number of Years: Interest Rate: 3 Number of Months: Monthly Interest Rate: 10 1 2 Future Value of the Annuity: 3 Note: Type refers to whether the annuity payments are paid on the first day of the month (wype 1) or the last of the month (Type ). Annuity payments made on the first day of the month are called "ordinary annuities." Annuity payments due at the end of the month are called 8 PaybackPeriod Breakevenonivestment PresentValue FutureValue PresentvalueAnnuity ad Future ValueAnnuit