What is the future value of a 5-year ordinary annuity with annual payments of $200,evaluated at a 15% interest rate?
A) $670.44
B) $842.91
C) $1,169.56
D) $1,522.64
E) $1,348.48

Question

Quizplus · Accepted Answer

FV = PMT × 11ea7fdb_fc13_c230_a768_0b06e9998516_TB2902_11 FV = 200 × 11ea7fdb_fc13_c231_a768_7b5a43396b50_TB2902_11 = $1,348.48
Using a financial calculator:
N = 5, I/Y = 15, PV = 0, PMT = -200, cpt FV = $1,348.48

What Is the Future Value of a 5-Year Ordinary Annuity