Future Value of an Annuity Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. Round your answers to the nearest cent. $800 per year for 10 years at 8%. $400 per year for 5 years at 4%. $800 per year for 5 years at 0%. Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due. $800 per year for 10 years at 8%. $400 per year for 5 years at 4%. $800 per year for 5 years at 0%.
Future Value of an Annuity
Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. Round your answers to the nearest cent.
- $800 per year for 10 years at 8%.
- $400 per year for 5 years at 4%.
- $800 per year for 5 years at 0%.
Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.
- $800 per year for 10 years at 8%.
- $400 per year for 5 years at 4%.
- $800 per year for 5 years at 0%.
Expert Answer
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