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Problem 4-18 Future Value of an Annuity for Various Compounding Periods Find the future values of the...

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Finance

Problem 4-18
Future Value of an Annuity for Various Compounding Periods

Find the future values of the following ordinary annuities:

  1. FV of $600 paid each 6 months for 6 years at a nominal rate of8%, compounded semiannually. Round your answer to the nearestcent.
    $    
  2. FV of $300 paid each 3 months for 6 years at a nominal rate of8%, compounded quarterly. Round your answer to the nearestcent.
    $    

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Transcribed Image Text

Problem 4-18Future Value of an Annuity for Various Compounding PeriodsFind the future values of the following ordinary annuities:FV of $600 paid each 6 months for 6 years at a nominal rate of8%, compounded semiannually. Round your answer to the nearestcent.$    FV of $300 paid each 3 months for 6 years at a nominal rate of8%, compounded quarterly. Round your answer to the nearestcent.$    

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