Solve the following exercises by using formulas.
Ordinary Annuities
Annuity  Payment  Time  Nominal  Interest  Future Value  
Payment  Frequency  Period (years)  Rate (%)  Compounded  of the Annuity  
18.$1.800  every 3 months 

4.0  quarterly 
To calculate: The future value of ordinary annuity where annuity payment is
Given Information:
Annuity payment is
Formula used:
Steps for calculating the future value of an ordinary annuity are:
Step 1: First the interest rate per period for the annuity is calculated.
Step 2: The number of annuity periods should then be determined.
Step 3: Use table 121 to locate the ordinary annuity table factor that lies on the intersection of the rate column and period rows.
Step 4: Finally future value of the ordinary annuity is calculated.
The formula to compute the future value of ordinary annuity is,
Calculation:
Consider that Annuity payment is
As the interest is compounded quarterly. So, the interest rate period is;
The rate period is
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