Question

What is the future value of 20 periodic payments of $4,720 each
made at the beginning of each period and compounded at 8%? What is
the present value of $3,440 to be received at the beginning of each
of 28 periods, discounted at 5% compound interest? What is the
future value of 16 deposits of $2,920 each made at the beginning of
each period and compounded at 10%? (Future value as of the end of
the 16th period.) What is the present value of 6 receipts of $3,280
each received at the beginning of each period, discounted at 9%
compounded interest? *(Round factor values to 5 decimal
places)*

Answer #1

(1)

Future value of annuity due = annuity due x FVAF

= $4720 x 49.42292

**= $233,276.18**

where,

FVAF(8%, 20) = 49.42292

(2)

present value of annuity due = annuity due x PVAF

= $3440 x 15.64303

**= $53812.02**

where,

PVAF(5%, 28) = 15.64303

(3)

Future value of annuity due = annuity due x FVAF

= $2920 x 39.54470

**= $115470.52**

where,

FVAF(10%, 16) = 39.54470

(4)

present value of annuity due = annuity due x PVAF

= $3280 x 4.88965

**= $16038.05**

where,

PVAF(9%, 6) = 4.88965

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