at in interest rate of 10% compounded monthly?
- what is the future value of a 5year ordinary annuity that promises to pay $300 each year. Interest rate 7%?
- What is the future value of a 5-year ordinary annuity that promises to pay you $300 each year?
- What is the future value of a 5-yr ordinary annuity that promises to pay you $300 each year? Interest is 7%.?
- What is the future value of a 5-year ordinary annuity that promises to pay you $300 each year? The rate of int
Ryan M
May 5, 2010 at 3:49 pm
You can do this in Excel in about 2 minutes. Why not go that route?
knowitall
May 5, 2010 at 4:08 pm
I guess you are aware that the answer can be ZERO? Do you know about the millions invested in Bernie Madoff’s scheme that made paupers out of millionaires?
Harry
May 5, 2010 at 4:35 pm
FV = $100[(1+0.10/12)^216 - 1]/(0.10/12)
FV = $60056.32