Question: Future value of an annuityUsing the values below, answer the questions that follow. Amount of annuity Interest rate Deposit period (years) $1 500 7% 8yrs

Future value of an annuityUsing the values below, answer the questions that follow.

Amount of annuity

Interest rate

Deposit period (years)

$1 500

7% 8yrs

calculate the future value of the annuity, assuming that it is

(1) An ordinary annuity.

(1) What is the future value of the ordinary annuity?

$___________

(Round to the nearest cent.)

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