document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=54692>Question 54692</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What is the future value of a 5 year annuity due that promises to pay you $300 each year?  The rate of interest is 7 percent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #37229 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=37229\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> What is the future value of a 5 year annuity due that promises to pay you $300 each year? The rate of interest is 7 percent.<BR>\n" );
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document.write( "Formula:<BR>\n" );
document.write( "S=R[(1+i)^n -1]/i<BR>\n" );
document.write( "S=300[(1+0.07)^5 -1]/0.07<BR>\n" );
document.write( "S=(300/0.07)[1.07^5 -1]<BR>\n" );
document.write( "S=4285.71[0.40 ]<BR>\n" );
document.write( "S=$1714.29<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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