You will receive a stream of annual $70 payments to begin at the end of year 0 until the final payment at the end of year 5.What amount will you have at the end of year 5 if you can invest all amounts at a 11% interest rate?

Name: You will receive a stream of annual $70 payments to begin at the end of year 0 until the final payment at the end of year 5.What amount will you have at the end of year 5 if you can invest all amounts at a 11% interest rate?
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Question

Quizplus · Accepted Answer

70 ´ {[{[(1.11)⁵ - 1]/.11} ´ 1.11]+1} = 553.90

You Will Receive a Stream of Annual $70 Payments to Begin