Question

f you start making $205 monthly contributions today and continue them for four years, what is...

f you start making $205 monthly contributions today and continue them for four years, what is their future value if the compounding rate is 11.50 percent APR? (Do not round intermediate calculations and round your final answer to 2 decimal places.) What is the present value of this annuity? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

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Answer #1

first, we find future value

PMT=205

n=12 for monthly payment

r=11.5% = 0.115

t=4 years

FV=?

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now we find present value

PMT=205

n=12 for monthly payment

r=11.5% = 0.115

t=4 years

FV=?

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