1. Find the future values of these ordinary annuities. Compounding occurs once a year.
a. $800 per year for 10 years at 10%. PV = I/Y = PMT = N = FV =
b. $400 per year for 5 years at 5%. PV = I/Y = PMT = N = FV =
c. $800 per year for 5 years at 0%. PV = I/Y = PMT = N = FV =
2. How long will it take $400 to double if it earns the following rates? Compounding occurs once a year.
a. 9% PV = I/Y = PMT = N = FV =
b. 15% PV = I/Y = PMT = N = FV =
c. 40% PV = I/Y = PMT = N = FV =
d. 100% PV = I/Y = PMT = N = FV =