Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given.
R = $4000, 10% interest compounded annually for 20 years
What is the future value of the ordinary annuity?
$
(Round to the nearest cent.)
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Step 1
Given,
The payments $4000
Interest rate is 10%
Term is 20 years
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