Future value of an ordinary annuity


Question 1: You want to buy a car but you are $5,000 short. If you invest $2,350.00 at an annual interest rate of 12%, how long will it take you to purchase the car?

Question 2: What is the future value of a 5-year ordinary annuity with annual payments of $2500, evaluated at 15% interest rate?

Solution Preview :

Prepared by a verified Expert
Finance Basics: Future value of an ordinary annuity
Reference No:- TGS02035555

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)

2015 ┬ęTutorsGlobe All rights reserved. TutorsGlobe Rated 4.8/5 based on 34139 reviews.