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 the
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.
- $600 per year for 2 years at 16%.$
- $300 per year for 1 year at 8%. $
- $700 per year for 14 years at 0%.$
Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.
$600 per year for 2 years at 16%.$ $300 per year for 1 year at 8%. $ $700 per year for 14 years at 0%.$Step by Step Solution
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