Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how much of this value is from contributions and how much is from interest. R=16,000; 4.3% interest compounded quarterly for 11 years. The future value of the ordinary annuity is $__ (Round to the nearest cent as needed.) The amount from contributions is $__ and the amount from interest is $__. (Round to the nearest cent as needed.)
Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how much of this value is from contributions and how much is from interest. R=16,000; 4.3% interest compounded quarterly for 11 years. The future value of the ordinary annuity is $__ (Round to the nearest cent as needed.) The amount from contributions is $__ and the amount from interest is $__. (Round to the nearest cent as needed.)
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Find the future value of an ordinary annuity if payments are made in the amount R and interest is compounded as given. Then determine how much of this value is from contributions and how much is from interest.
R=16,000; 4.3% interest compounded quarterly for 11 years.
The future value of the ordinary annuity is $__
(Round to the nearest cent as needed.)
The amount from contributions is $__ and the amount from interest is $__.
(Round to the nearest cent as needed.)
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