You deposit $350 into the bank account at the end of each year (ordinary annuity), 4 years in a row. The interest rate on the deposit is 4% per annum, accrued annually.
A) Calculate the Future Value of your investment after 4 years, taking into account compound interest. Use FV function in Excel
B) Double check your calculation of a) question using mathematical formula directly
C) How FV will change if it is annuity due, instead of the ordinary annuity? Use both FV function in Excel and double check by means of mathematical formula.

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ACalculate the Future Value of your investment after 4 years taking into account compound interest Use FV function in Excel To calculate the Future Va... View the full answer