7. What is the future value of a 10-year, $200 annual payment ordinary annuity. evaluated at an annual interest rate of 10%, compounded quarterly? (Hint: The annuity payments don't match the compounding periods.) a. $3,246.35 b. $3,000.00 c. $3,213.19 d. $3,225.95

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
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7.
What is the future value of a 10-year, $200 annual payment ordinary annuity.
evaluated at an annual interest rate of 10%, compounded quarterly?
(Hint: The annuity payments don't match the compounding periods.)
a. $3,246.35
b. $3,000.00
c. $3,213.19
d. $3,225.95
Transcribed Image Text:7. What is the future value of a 10-year, $200 annual payment ordinary annuity. evaluated at an annual interest rate of 10%, compounded quarterly? (Hint: The annuity payments don't match the compounding periods.) a. $3,246.35 b. $3,000.00 c. $3,213.19 d. $3,225.95
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