Find the future value of each annuity due. Then determine how much of this value is from contributions and how much is from interest.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Find the future value of each annuity due. Then determine how much of this value is from contributions and how much is from interest.
Payments of $1000 made at the beginning of each semiannual period for 7 years at 8.49 % compounded semiannually
The future value of the annuity due is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
The amount from contributions is $
The amount from interest is $
(Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Find the future value of each annuity due. Then determine how much of this value is from contributions and how much is from interest. Payments of $1000 made at the beginning of each semiannual period for 7 years at 8.49 % compounded semiannually The future value of the annuity due is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The amount from contributions is $ The amount from interest is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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