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What is the future value of a 14-year ordinary annuity of $450 if the interest rate...

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Finance

What is the future value of a 14-year ordinary annuity of $450if the interest rate is 6%?

Q11b – What is the present value of the annuity? Hint: Solvefor PV.

Q11c – What is the future value and present value if theannuity were an annuity due? Solve.

Answer & Explanation Solved by verified expert
3.8 Ratings (355 Votes)
11b Future value Annuity 1 rn 1 r Future value of annuity 450 1 00614 1 006 Future value of annuity 450 2101507 Future value of annuity 945678 Present    See Answer
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What is the future value of a 14-year ordinary annuity of $450if the interest rate is 6%?Q11b – What is the present value of the annuity? Hint: Solvefor PV.Q11c – What is the future value and present value if theannuity were an annuity due? Solve.

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