Question: I am having trouble getting the value. (which is apparently 504,768.81) help please. 2. . Calculate the future value of an annuity of $500 each


I am having trouble getting the value. (which is apparently 504,768.81) help please.
2. . Calculate the future value of an annuity of $500 each month for thirty years, earning a rate of 6% per annum (i.e., a 0.5% monthly rate.) The payments are at the beginning of each month and the future value will be paid back at the end of thirtieth year. Answers: Ex1: 139,716; Ex.2: 504,768.81 File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments fx Calculate Now V Define Name Use in Formula Name Manager Eo Create from Selection Insert Function AutoSum Recently Financial Logical Text Date & Lookup & Math & More Used Time Reference Trig Functions & Trace Precedents Vix Show Formulas FaTrace Dependents Error Checking Fi Remove Arrows Evaluate Formula Formula Auditing Watch Window Calculation Options Calculate Sheet Function Library Defined Names Calculation B8 Y A B D E F G H J K L M N o P 0 R 6% 30 -6000 1 Interest Rate 2 Number of Years 3 Annuality 4 5 Future Value 6 7 $505,681.81 8 9 10 11 12 13 14 15 16 17 18 19 20 21 3.1.1 3.1.2 3.2.1 3.2.2 3.3.1 3.3.2 + Ready + 100% File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments fx Calculate Now ? AutoSum Recently Financial Logical Text Date & Lookup & Math & More Used Time Reference Trig Functions Insert Function Define Name Cik Use in Formula Name Manager Do Create from Selection By Trace Precedents Dx Show Formulas Fa Trace Dependents Error Checking FRemove Arrows Evaluate Formula Formula Auditing Watch Window Calculation Options Calculate Sheet V Function Library Defined Names Calculation B8 X fr B C D E F G H 0.06 30 =-500*12 A 1 Interest Rate 2 Number of Years 3 Annuality 4 5 Future Value 6 7 8 =FV(B1,B2,B3,-500,1) 9 10 11 12 13 14 15 16 17 18 19 20 21 3.1.1 3.1.2 3.2.1 3.2.2 3.3.1 3.3.2 Ready . 100%
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