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Find the value of the ordinary annuity at the end of the indicated time period. The...

Find the value of the ordinary annuity at the end of the indicated time period. The payment​ R, frequency of deposits m​ (which is the same as the frequency of​ compounding), annual interest rate​ r, and time t are given below? ​Amount, ​$800​; ​monthly; 6​%; 4 years

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Answer #1

Future Value =

where r is the rate of Return for compounding period = 6% /12 = 0.5%  

n is the no of compounding period 4 years * 12 = 48 months/ periods

=

= 800 * 54.09783217

= 43,278.26

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