Future value annuity versus annuity due-whats the future, Financial Management

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Future value annuity versus annuity due-whats the future

1. FUTURE VALUE: ANNUITY VERSUS ANNUITY DUE-What's the future value of a 5%, 5 -year ordinary annuity that pays $800 each year? If this was an annuity due, what would its future value be?

2. TIME TO REACH A FINANCIAL GOAL-You have $33,556.25 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $220,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal?

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