Find the amount (future value) of the ordinary annuity. (Round your answer to th

Question

Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.) $1100/semiannual period for 9 years at 8%/year compounded semiannually Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.) $110/month for 17 years at 13%/year compounded monthly $ Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $3400/semiannual period for 7 yr at 12%/year compounded semiannually $1100/semiannual period for 9 years at 8%/year compounded semiannually Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.) $110/month for 17 years at 13%/year compounded monthly $ Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $3400/semiannual period for 7 yr at 12%/year compounded semiannually $3400/semiannual period for 7 yr at 12%/year compounded semiannually

Explanation / Answer

1) A = $1100 per 6months, t= 9years = 18 , rate = 8% per year = 4% = 0.04

F = A { ([ 1 + r]^t -1) / r } = $28210

2) A = $110 per months, t= 17years = 34 , rate = 13% per year = 1.14% = 0.0114

F = A { ([ 1 + r]^t -1) / r } = $4537

3) A = $3400 per semiannual, t= 7years = 14 , rate = 12% per year =6 % = 0.06

P = A[ ([ 1 + r]^t -1) / r(1+r)^t } = $31580

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