Using a table to determine the present value of an annuity
Using a table to determine the present value of an annuity
May 14, 2020
artofsmart.com.au
SOLVED: 1.Find the amount accumulated FV in the given annuityaccount. HINT [See Quick Example 1 and Example 1.] (Assumeend-of-period deposits and compounding at the same intervals asdeposits. Round your answer to the nearest ten dollars.)300 deposited monthly for 16 years at 5% per yearFV =2.Find the periodic payments PMT necessary to accumulatethe given amount in an annuity account. HINT [See Quick Example 2.](Assume end-of-period deposits and compounding at the sameintervals as deposits. Round
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