SOLUTION: What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year?
If this were an annuity due, what would its future value be
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Question 1198892: What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year?
If this were an annuity due, what would its future value be
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
you can use the financial calculator at https://arachnoid.com/finance/ to solve this.
your inputs are:
pv = 0
np = 5 years
pmt = 300 each year
ir = 7% per year
payment is made at the end of each year.
output is:
fv = 1,725.22
that's what will be in the account at the end of the investment period.
pv is present value
fv is future value
np is number of time periods
pmt is payment per time period
ir is interest rate percent per time period
payment at is whether the payments are to be made at the beginning or the end of each time period.
the time periods for this analysis are years.
here is what the results look like.
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