Question: The amount from contributions is $ and the amount from interest is $ . (Round to the nearest cent as needed.). Find the future value

The amount from contributions is $ and the amount from interest is $ . (Round to the nearest cent as needed.). Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how much of this value is from contributions and how much is from interest. R = 16,000, 4.3% interest compounded quarterly for 8 years. The future value of the ordinary annuity is $ (Round to the nearest cent as needed.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
