# SOLUTION: Please Help: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = \$1000, i = 0.06, n = 11 A) \$13,180.79 B) \$14,97

Algebra ->  Algebra  -> Equations -> SOLUTION: Please Help: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = \$1000, i = 0.06, n = 11 A) \$13,180.79 B) \$14,97      Log On

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 Click here to see ALL problems on Equations Question 201909: Please Help: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = \$1000, i = 0.06, n = 11 A) \$13,180.79 B) \$14,971.64 C) \$31,638.31 D) \$2984.75 Answer by Theo(3504)   (Show Source): You can put this solution on YOUR website!answer is B (14,971.64) formula is future worth of an annuity as shown below. FV (Annuity) means future value of the annuity. r = interest rate per period n = number of periods pmt = payment per period the assumption here is that the period is in years. payment is made at the end of each year. interest rate is compounded yearly. note: interest rate is the % interest divided by 100%. example: if % interest = 15% then interest rate = .15