1. Find the future value of an annuity due of $200 paid at the beginning of each...

Question:

1. Find the of an due of $200 paid at the beginning of each 6-month period for 8 years if the interest rate is 6%, compounded semiannually?
2. A house is rented for $3600 per quarter, with each quarter's rent payable in advance. If money is worth 8%, compounded quarterly, and the rent is deposited in an account, what is the of the rent for one year?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...