3. What is the future value at the end of a 5 year period of a 5-year ordinary annuity with annual payments of $400, ev...

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Question

3. What is the future value at the end of a 5 year period of a 5-year ordinary annuity with annual payments of $400, evaluate

business finance

Answer 1

Answer #1

pmt x ((1+r)^n-1) )/r Future value at the end of year 5 fv $2,442.04 [$400*(((1.10 5)-1)/0.10)]

Answer 2

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