Question

Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent.

1. $400 per year for 10 years at 16%.

   $  

2. $200 per year for 5 years at 8%.

   $  

3. $600 per year for 5 years at 0%.

   $  

4. Rework parts a, b, and c assuming they are annuities due.

   Future value of $400 per year for 10 years at 16%: $  

   Future value of $200 per year for 5 years at 8%: $  

   Future value of $600 per year for 5 years at 0%: $  

Answer 1

a) $ 8528.59

b) $ 1173.32

c) $ 3000

d) Option 1 = $ 9893.16,

Option 2 = $ 1267.19

Option 3 = $ 3000

Calculation is given in the below attached images.

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