If Mr. Enmetti invests 90,000 on June 1 of each year from 2008 to 2018 inclusive, how

Question:

If Mr. Enmetti invests €90,000 on June 1 of each year from 2008 to 2018 inclusive, how much will he have accumulated on June 1, 2019 (note that one year elapse after the last payment), if the interest rate is
a. 5% per year?
b. 10% per year?
Required:
Calculations of present and for single payments and for annuities, to make the exercises more realistic, we do no give specific guidance with each individual exercise.

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...