Question
In: Finance
What is the future value of a 5-year ordinary annuity with annual payments of $339, evaluated...
What is the future value of a 5-year ordinary annuity with annual payments of $339, evaluated at a 10 percent interest rate? (Do not include the dollar sign ($), and round your answer to 2 decimal places: for example, 536.34)
Solutions
Expert Solution
Future value of annuity = Annual payment*[{(1+r)^n - 1}/r]
= 339*[{(1+10%)^5 - 1}/0.1]
= $2,069.63
Hence, the answer is $2,069.63
jeff jeffy answered 2 years agoRelated Solutions
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Round your answer to the nearest cent.
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What is the future value of a 5-year ordinary annuity of $1000
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What is the future value of $1000 after 4 years under 10%
annual compounding? Semiannual compounding? Quarterly compounding?
Monthly compounding? Daily compounding
What is the effective annual rate (EAR or EFF%)? What is the
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Taken from
Principles of Managerial Finance
Edition 15
Chad J. Zutter; Scott B. Smart
(a) What is the future value of a 4-year ordinary (regular) annuity of $2,750 if the...
(a) What is the future value of a 4-year ordinary (regular)
annuity of $2,750 if the appropriate interest rate is 5.6%? (b)
What is the present value of this 4-year ordinary annuity? (c) What
would the i) future, and ii) present value, be if this annuity were
an annuity due (still 4 years)? Hint: set your calculator to BGN,
there is a video in M2 that shows you how to do this. Don’t forget
to reset to “END” after you...
(a) What is the future value of a 4-year ordinary (regular) annuity of $2,750 if the...
(a) What is the future value of a 4-year
ordinary (regular) annuity of $2,750 if the appropriate interest
rate is 5.6%?
(b) What is the present value of this 4-year
ordinary annuity?
(c) What would the
i) future, and ii) present value, be if this annuity were an
annuity due (still 4 years)? Hint: set your calculator to BGN,
there is a video in M2 that shows you how to do this. Don’t
forget to reset to “END” after you...
What is the future value of a five-year ordinary annuity of $1,000 per year if the...
What is the future value of a five-year ordinary annuity of
$1,000 per year if the interest rate is 1.28%? Hint: solve for year
5.
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What's the future value of a 10%, 5-year ordinary annuity that
pays $400 each year? If this was an annuity due, what would its
future value be? Do not round intermediate calculations. Round your
answers to the nearest cent.
Future Value of an Ordinary Annuity: $
Future Value of an Annuity Due:
You borrow $270,000; the annual loan payments are $17,563.89
for 30 years. What interest rate are you being charged? Round your
answer to the nearest whole number.
%
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