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You are computing the future value of an ordinary annuity with annual payments of $650 each...

Question

You are computing the future value of an ordinary annuity with annual payments of $650 each...

You are computing the future value of an ordinary annuity with annual payments of $650 each for four years. The annuity interest rate is 4 percent. The future value of each one of these four payments at the end of year 4 is:

Answers

Value at year 4 = pmt x ((1+r)^n-1)/ $2,760.20 650*(((1.0414)-1)/0.04)


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