Find the future value of the following ordinary annuity Periodic Payment Term Interest Rate Conversion Рayment...

Question

Question

Find the future value of the following ordinary annuity Periodic Payment Term Interest Rate Conversion Рayment Interval Perio

business finance

Answer 1

Answer #1

EAR = (1 + 0.09/4)^4 - 1
EAR = 9.308%

Calculating Future Value,

Using TVM Calculation,

FV = [PV = 0, PMT = 1,450, N = 13, I = 0.09308]

FV = $33,965.53

Answer 2

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