1 Find the future value of an annuity of $1300 paid at the end of each year for 5 years, if interest is earned at a rate of 6 , compounded annually 2 Find the future value of an annuity of $5000 paid at the end of each year for 10 years, if it earns 9 , compounded annually ...

1. Find the future value of an annuity of $1300 paid at the end of each year...

Question:

1. Find the of an of $1300 paid at the end of each year for 5 years, if interest is earned at a rate of 6%, compounded annually?
2. Find the of an of $5000 paid at the end of each year for 10 years, if it earns 9%, compounded annually?
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...