What's the future value of a 3-year $500 ordinary annuity, if the quoted interest rate is 11.35%, compounded semiannually? Note that the annuity payments are annual but that the compounding is semiannual. Round your final answer to 2 decimal places. O $1,777.10 O $1,757.72 $1,729.62 $1,676.69 O $1,888.60

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
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What's the future value of a 3-year $500 ordinary annuity, if the quoted interest rate is
11.35%, compounded semiannually? Note that the annuity payments are annual but that the
compounding is semiannual. Round your final answer to 2 decimal places.
O $1,777.10
$1,757.72
O $1,729.62
$1,676.69
$1,888.60
Transcribed Image Text:What's the future value of a 3-year $500 ordinary annuity, if the quoted interest rate is 11.35%, compounded semiannually? Note that the annuity payments are annual but that the compounding is semiannual. Round your final answer to 2 decimal places. O $1,777.10 $1,757.72 O $1,729.62 $1,676.69 $1,888.60
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