Question

you plan to deposit $100 at the end of the year that pays 4% 1- how much will you have after 3 years ? find the FV of a 3 year ordinary annuity of $100 at 4%2- if this was an annuity due what would its future value be

Name: you plan to deposit 100 at the end of the year that pays 4 1 how much will you have after 3 years find the fv of a 3 year ordinary annuity of 100 at 42 if this was an annuity due what would 60933
Uploaded: 2022-08-08T13:54:36-08:00
Duration: 1 min 6 s
Channel: Tsungirirai Musekiwa
Description: you plan to deposit 100 at the end of the year that pays 4 1 how much will you have after 3 years find the fv of a 3 year ordinary annuity of 100 at 42 if this was an annuity due what would 60933

          you plan to deposit $100 at the end of the year that pays 4% 1- how much will you have after 3 years ? find the FV of a 3 year ordinary annuity of $100 at 4%2- if this was an annuity due what would its future value be

Added by Lauren C.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Tsungirirai Musekiwa

08/08/2022

Step 1

Given: - Yearly payment (x) = $100 - Interest rate (i) = 4% = 0.04 - Number of years (n) = 3 Using the formula for the future value of an ordinary annuity: \[ FV = x \times \left( \dfrac{(1 + i)^n - 1}{i} \right) \] Plugging in the values: \[ FV = 100 \times Show more…

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you plan to deposit $100 at the end of the year that pays 4% 1- how much will you have after 3 years ? find the FV of a 3 year ordinary annuity of $100 at 4%2- if this was an annuity due what would its future value be