SOLUTION: Find the future value of the annuity due. R = 1,000; I = .06 compounded annually; n = 5. Please solve and show work. Thank you very much.

Algebra ->  Finance -> SOLUTION: Find the future value of the annuity due. R = 1,000; I = .06 compounded annually; n = 5. Please solve and show work. Thank you very much.      Log On


   

Question 982395: Find the future value of the annuity due. R = 1,000; I = .06 compounded annually; n = 5. Please solve and show work.
Thank you very much.
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=1000(1.06)^5
FV=1000*1.3382256
FV=1338.20