SOLUTION: Please Help: Find the future value of the annuity due. Payments of $2500 made at the beginning of each semiannual period for 11 years at 7% compounded semiannually A) $42,221

Question 201919: Please Help:
Find the future value of the annuity due.
Payments of $2500 made at the beginning of each semiannual period for 11 years at 7% compounded semiannually
A) $42,221.13
B) $73,173.68
C) $78,322.26
D) $83,651.03

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
This formula is for payments being made at end of compounding period, multiply answer by (1+i0 to find FV when payment is made at the beginning of compounding period.
FV=P/i
FV=2500/.035=2828.75/.035=80821.43
80821.43*1.035=$83651.03
when using numbers like these there is always some rounding error.
RELATED QUESTIONS
We have used the formula A = R (1 + i)n − 1 i to find the future value of... (answered by MathLover1,MathTherapy,ikleyn)

Please help! $1500 deposited at the beginning of each year for 15 years at 5% compounded (answered by rfer)

Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest (answered by stanbon)

Please Help: Find the future value of the annuity due. $200 deposited at the... (answered by rfer)

What is the future value of an ordinary annuity with semiannual payments of $7,300 at 5%... (answered by robertb)

Find the present value of the ordinary annuity. Please round the answer to the nearest... (answered by randyjoseph7)

Find the amount (future value) of an ordinary annuity of $1600 per semiannual period for... (answered by mananth)

28. Find the future value of each ordinary annuity, if payments are made and interest is... (answered by checkley77)

Please help to solve this, thanks. Suppose payments were made at the end of each quarter (answered by robertb)