Question: Problem 4-18 Future Value of an Annuity for Various Compounding Periods Find the future values of the following ordinary annuities: FV of $800 paid each

Problem 4-18 Future Value of an Annuity for Various Compounding Periods

Find the future values of the following ordinary annuities:

  1. FV of $800 paid each 6 months for 5 years at a nominal rate of 8%, compounded semiannually. Round your answer to the nearest cent. $
  2. FV of $400 paid each 3 months for 5 years at a nominal rate of 8%, compounded quarterly. Round your answer to the nearest cent. $

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