Calculate the future value of the following annuities, then answer the questions that follow. What is the future value of an ordinary annuity with monthly deposits of $80.00 for 30 years with an interest rate of 3%? Future Value What is the future value of an ordinary annuity with monthly deposits of $160.00 for 15 years with an interest rate of 3%? Future Value Does doubling your monthly deposit make up for cutting the time in half? O No O Yes Is depositing $200.00 a month for 15 years enough to match putting $80.00 a month in for 30 years? O Yes O No

Calculate the future value of the following annuities, then answer the questions that follow. What is the future value of an ordinary annuity with monthly deposits of $80.00 for 30 years with an interest rate of 3%? Future Value What is the future value of an ordinary annuity with monthly deposits of $160.00 for 15 years with an interest rate of 3%? Future Value Does doubling your monthly deposit make up for cutting the time in half? O No O Yes Is depositing $200.00 a month for 15 years enough to match putting $80.00 a month in for 30 years? O Yes O No

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 7Q

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