Find the future values of the ordinary annuities
Find the future values of the following ordinary annuities:A. FV of $800 paid each 6 months for 5 years at a nominal rate of 8%, compounded semiannually.B. FV of $400 paid each 3 months for 5 years at a nominal rate of 8%, compounded quarterly.
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Ekman Company issued $1,400,000, 13-year bonds and agreed to make annual sinking fund deposits of $70,700. The deposits are made at the end of each year into an account paying 6% annual interest.
Find the future values of the following ordinary annuities: FV of $800 paid each 6 months for 5 years at a nominal rate of 8%, compounded semiannually.
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