Annuity Payment Annual Rate Interest Compounded Period Invested Future Value of Annuity 1. $3,100 8.0 % Semiannually 9 years $79,500.77 2. 6,100 10.0 % Quarterly 5 years   3. 5,100 12.0 %

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Calculate the future value of the following annuities, assuming each annuity payment is made at the end of each compounding period. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)


 

 

 
 

Annuity Payment

Annual Rate

Interest Compounded

Period Invested

Future Value of Annuity

1.

$3,100

8.0

%

Semiannually

9 years

$79,500.77

2.

6,100

10.0

%

Quarterly

5 years

 

3.

5,100

12.0

%

Annually

6 years



 

 

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