Use Table 14 - 1 to find the future value and total interest of the annuities. See
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Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Annuity type 1. Ordinary annuity 2. Ordinary annuity 3. Ordinary annuity 4. Annuity due 5. Annuity due 6. Annuity due Periodic payment $1,000 $ 500 $2,000 $3,000 $5,000 800 Annual interest rate 5% 4% 8% 6% 3% 7% Payment paid Annually Semiannually Quarterly Semiannually Annually Annually Years
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1 Number of periods 8 Period rate 5 Table value 9549 Future value 1000 9549 9549 ...View the full answer
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Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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