Given below are the future value factors for 1 at 8% for one to five periods....
Given below are the future value factors for 1 at 8% for one to five periods. Interest compounded annually is 8%. What amount will be in a bank account three years from now if $8,000 is invested each year for four years with the first investment to be made today?
Homework Answers
future value of annuity due = annuity due x FVAF
= $8000 x 3.50611
= $28048.88
therefore, $28048.88 will be in bank account three years from now.
Where,
FVAF(8%,3) annuity due = 3.50611
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Given below are the future value factors for 1 at 8% for one to
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Click here to view factor tables
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