document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=854147>Question 854147</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What is the future value of an annuity that has payments of $650 a year for 7 years compounded annually at 4%. </SPAN>\n" );
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document.write( "Annually = P × (1 + r) = (annual compounding)\r<BR>\n" );
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document.write( "A = 650*(1+0.04)\r<BR>\n" );
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document.write( "A = $676 per year.\r<BR>\n" );
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document.write( "For seven years, multiply 676 by 7.\r<BR>\n" );
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document.write( "Answer: $4732\r<BR>\n" );
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