6.Find the future values of these ordinary annuities. Compounding occurs once a
ID: 1237248 • Letter: 6
Question
6.Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.a.$300 per year for 4 years at 14%.
b.$150 per year for 2 years at 7%.
c$1,000 per year for 4 years at 0%.
Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.
d.$300 per year for 4 years at 14%.
e.$150 per year for 2 years at 7%.
f.$1,000 per year for 4 years at 0%.
7. the present values of these ordinary annuities. Discounting occurs once a year. Round your answers to the nearest cent.
a.$500 per year for 12 years at 14%.
b.$250 per year for 6 years at 7%.
c.$200 per year for 6 years at 0%.
Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.
d.$500 per year for 12 years at 14%.
e.$250 per year for 6 years at 7%.
f.$200 per year for 6 years at 0%.
8.You borrow $110,000; the annual loan payments are $7,991.38 for 30 years. What interest rate are you being charged?
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