Annuity Problems

Leatherneck

wrote...

Posts: 3

Rep:

10 years ago Edited: 10 years ago, Leatherneck

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.

Read 867 times

3 Replies

Report

Related Topics

Solved An annuity with a specific number of periods is called an annuity certain.
Solved An annuity with payments made at the end of each period is called an ordinary annuity.
Solved An annuity paid over a guaranteed number of periods is a(n):
Solved An annuity paid over an uncertain number of periods is a(n):
Solved The primary difference between an annuity due and an ordinary annuity is:I. when the money is paid i
Solved When compared to an ordinary annuity, an annuity due results in lower maturity value.
Solved An annuity due with only one compounding period earns interest; an ordinary annuity with one compou
Solved An annuity due, when compared to an ordinary annuity, results is a(n):

Replies

padre

wrote...

Staff Member

Educator

10 years ago

HI Leatherneck

Could you please show us the solution to this problem?

Report

Mastering in Nutritional Biology
Tralalalala Slight Smile

azgg7

wrote...

Valued Member

10 years ago

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

Report

padre

wrote...

Staff Member

Educator

10 years ago

Thanks

Report

Mastering in Nutritional Biology
Tralalalala Slight Smile

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1129 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

307

345

248

Your Opinion

Previous poll results: What percentage of nature vs. nurture dictates human intelligence?

Courses by Biology Forums

Bonobos, Chimpanzees, and the 98% DNA Link

The Toxic Skin and Fungi Defense

It's sore throat season, why does my mucus have red spots?

Strange Ingredients Lurking in Doritos Chips

Ready to ask a question on Biology Forums? Try it out

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.