Find the future values of the following ordinary annuities. FV of $200 each 6 months for...

Find the future values of the following ordinary annuities.

FV of $200 each 6 months for 10 years at a nominal rate of 8%, compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent.

$
FV of $100 each 3 months for 10 years at a nominal rate of 8%, compounded quarterly. Do not round intermediate calculations. Round your answer to the nearest cent.

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The annuities described in parts a and b have the same amount of money paid into them during the 10-year period, and both earn interest at the same nominal rate, yet the annuity in part b earns more than the one in part a over the 10 years. Why does this occur?

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jeff jeffy answered 1 year ago

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