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. $500 per year for 16 years at 10%.

   $  

2. $250 per year for 8 years at 5%.

   $  

3. $700 per year for 8 years at 0%.

   $  

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

   Future value of $500 per year for 16 years at 10%: $  

   Future value of $250 per year for 8 years at 5%: $  

   Future value of $700 per year for 8 years at 0%: $

Answer 1