Question: Problem 5-14 Future value of an annuity Find the future values of these ordinary annuities . Compounding occurs once a year. Round your answers to

Problem 5-14 Future value of an annuity

Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.

  1. $300 per year for 6 years at 6%.

    $

  2. $150 per year for 3 years at 3%.

    $

  3. $400 per year for 14 years at 0%.

    $

    Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.

  4. $300 per year for 6 years at 6%.

    $

  5. $150 per year for 3 years at 3%.

    $

  6. $400 per year for 14 years at 0%.

    $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!