   Chapter 12, Problem 8CR ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Write the formula for calculating the future value of an annuity due when using a calculator with an exponential function, ( y x ) key. (12-3)

To determine

The formula for calculating the future value of an annuity due when using a calculator with an exponential function, yx, key.

Explanation

An annuity due is the stream of payment where the payment is made at the beginning of each payment period.

It is the opposite of ordinary annuity where the payment is made at the end of each payment period.

The formula to compute future value of an annuity due when using a calculator is as:

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