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