Future value of an ordinary annuity. Fill in missing future values in the follow
ID: 2622043 • Letter: F
Question
Future value of an ordinary annuity. Fill in missing future values in the following table for an ordinary annuity. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
Number of Payments or Years
Annual
Interest Rate
Present Value
Annuity
Future Value
9
9%
0
$223.29
?
18
12%
0
$1,296.73
?
29
4%
0
$739.76
?
320
0.5%
0
$490.35
?
$__ (Round to two nearest cent
Number of Payments or Years
Annual
Interest Rate
Present Value
Annuity
Future Value
9
9%
0
$223.29
?
18
12%
0
$1,296.73
?
29
4%
0
$739.76
?
320
0.5%
0
$490.35
?
Explanation / Answer
1). FV = 223.29*FVIFA(9,9) = 223.29*13.0210 = $2907.46
2). FV = 1296.73*FVIFA(12,18) = 1296.73*55.7497 = $72292.31
3). FV = 739.76*FVIFA(4,29) = 739.76*52.9663 = $39182.35
4). FV = 490.35*FVIFA(.5,320) = 490.35*786.6651 = $385741.23
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