calculate the future value (in $) of the ordinary annuity. (Round your answer to the nearest cent.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 5E
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 calculate the future value (in $) of the ordinary annuity. (Round your answer to the nearest cent.)

Annuity
Payment
Payment
Frequency
Time
Period (years)
Nominal
Rate (%)
Interest
Compounded
Future Value
of the Annuity
$5,500 every 6 months 5 4 semiannually  
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