Mathematics, 13.12.2020 19:00 Harms
Let $ 500 be paid at the end of each quarter for 5 years. If the interest is earned rate of 13%, compounded quarterly, find the future value of this ordinary annuity. a. $ 13,782.12 O b. $ 8,223.66 c. $ 21,315.22 O d. non of them e. $ 31,201.08
Answers: 2
![Future\ value\ of\ annuity\ (FV)=p[\frac{(1+r)^n-1}{r} ] \\\\Future\ value\ of\ annuity\ (FV)=500[\frac{(1+0.0325)^{20}-1}{0.0325} ] \\\\Future\ value\ of\ annuity\ (FV)=13,782.1219 \\\\](/tpl/images/0979/0143/03dfb.png)
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Let $ 500 be paid at the end of each quarter for 5 years. If the interest is earned rate of 13%, com...
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