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Express Lane Plus
Posts: 349
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2 months ago
 Find the future value for the annuity due with the given rate. Payments of ​$200 200 for 7 7 ... Find the future value for the annuity due with given ratepayments of$200 for 7 years at 0.37% compounded quarterly the future value of the annually due is  $? Read 96 times 1 Reply Replies wrote... Educator 2 months ago  Use the annuity formula:$$A=\frac{R\left[\left(1+i\right)^n−1\right]}{i}$$Where: A=future value amountR=regular deposit/paymenti=interest rate per compounding periodn=total number of depositsR =$200i = 0.37 / 100 / 4 (quarterly)n = 7 * 4 (quarterly)$$A=\frac{200\left[\left(1+0.000925\right)^{28}−1\right]}{0.000925}=5670.49$$
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