The future value of a $10,000 annuity deposited at 12 percent compounded annually for each of next 5 years is: (Round to the nearest whole dollar)
A) $36,050
B) $71,154
C) $40,376
D) $63,528

Question

Quizplus · Accepted Answer

FV = PMT × 11ea7fdb_fc14_d3b9_a768_a5355ade904e_TB2902_11 FV = 10,000 × 11ea7fdb_fc14_faca_a768_15cf6164acfa_TB2902_11 = $63,528.47
Using a financial calculator:
N = 5, I/Y = 12, PV = 0, PMT = -10,000, cpt FV = 63,528.47

The Future Value of a $10,000 Annuity Deposited at 12