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For each of the following annuities, calculate the future value.   Future Value Annual Payment Years Interest...

For each of the following annuities, calculate the future value.  

Future Value Annual Payment Years Interest Rate
?????? $1,730 10 10%
?????? 8,080 33 11
????? 4,130 9 8
?????? 8,890 28 12
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Homework Answers

Answer #1

1)

Future value = Annuity * [(1 + r)n - 1] / r

Future value = 1,730 * [(1 + 0.1)10 - 1] / 0.1

Future value = 1,730 * 15.937425

Future value = $27,571.74

2)

Future value = Annuity * [(1 + r)n - 1] / r

Future value = 8,080 * [(1 + 0.11)33 - 1] / 0.11

Future value = 8,080 * 275.529222

Future value = $2,226,276.12

3)

Future value = Annuity * [(1 + r)n - 1] / r

Future value = 4,130 * [(1 + 0.08)9 - 1] / 0.08

Future value = 4,130 * 12.487558

Future value = $51,573.61

4)

Future value = Annuity * [(1 + r)n - 1] / r

Future value = 8,890 * [(1 + 0.12)28 - 1] / 0.12

Future value = 8,890 * 190.698887

Future value = $1,695,313.11

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