You invest in an ordinary annuity of $500 annually at 8 annual interest Find the future value of the annuity at the end of ten years How much have you invested How much interest has your annuity earned ...

The Table 141 value for 10 periods ...

You invest in an ordinary annuity of $500 annually at 8% annual interest. Find the future value

Question:

You invest in an ordinary of $500 annually at 8% annual interest. Find the of the at the end of ten years. How much have you invested? How much interest has your earned?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...