Question

Question 15 Jim Scott invested  $5000  four times a year in an annuity due at New York Securities for a period of  4  years at an interest rate of  8% compounded quarterly. Using the

ordinary annuity table , calculate the total value of the annuity due at the end of the  4 -year period.

Ordinary annuity table: Compound sum of an annuity of $1
Period	2%	3%	4%	5%	6%	7%	8%	9%	10%	11%	12%
1	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000
2	2.0200	2.0300	2.0400	2.0500	2.0600	2.0700	2.0800	2.0900	2.1000	2.1100	2.1200
3	3.0604	3.0909	3.1216	3.1525	3.1836	3.2149	3.2464	3.2781	3.3100	3.3421	3.3744
4	4.1216	4.1836	4.2465	4.3101	4.3746	4.4399	4.5061	4.5731	4.6410	4.7097	4.7793
5	5.2040	5.3091	5.4163	5.5256	5.6371	5.7507	5.8666	5.9847	6.1051	6.2278	6.3528
6	6.3081	6.4684	6.6330	6.8019	6.9753	7.1533	7.3359	7.5233	7.7156	7.9129	8.1152
7	7.4343	7.6625	7.8983	8.1420	8.3938	8.6540	8.9228	9.2004	9.4872	9.7833	10.0890
8	8.5829	8.8923	9.2142	9.5491	9.8975	10.2598	10.6366	11.0285	11.4359	11.8594	12.2997
9	9.7546	10.1591	10.5828	11.0265	11.4913	11.9780	12.4876	13.0210	13.5795	14.1640	14.7757
10	10.9497	11.4639	12.0061	12.5779	13.1808	13.8164	14.4866	15.1929	15.9374	16.7220	17.5487
11	12.1687	12.8078	13.4863	14.2068	14.9716	15.7836	16.6455	17.5603	18.5312	19.5614	20.6546

Answer 1