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Title: Annuity Problems Post by: Leatherneck on Feb 23, 2014 So this one has me stumped... Any help is greatly appreciated. Thanks.
Find the future value of an annuity if you invest $950 quarterly for 7 years at 20% compounded quarterly. EDIT: Disregard, finally figured it out after 20min. Title: Re: Annuity Problems Post by: padre on Feb 25, 2014 HI Leatherneck
Could you please show us the solution to this problem? Title: Re: Annuity Problems Post by: azgg7 on Feb 27, 2014 Future Value = Present Value * (1 + interest%perinterval)^number of intervals
Present value = 950 interest = 20%/4 = .20/4 = .05 number of intervals = 7 * 4 = 28 Future = 950 ( 1 + .05)^28 Future = 950 (1.05)^28 Future = 950(3.92) Future = 3724 Title: Re: Annuity Problems Post by: padre on Feb 27, 2014 Thanks
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