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  • Jul 17, 2007, 04:09 PM
    marinewife22
    Value of annuity
    What is the future value of a 5-year ordinary annuity that promises to pay you $300 each year? The rate of interest is 7 percent.
  • Jul 17, 2007, 09:45 PM
    KongTheKonqueror
    FVoa = PMT [(((1 + I)^n )- 1)/ I]

    FVoa = Future Value of an Ordinary Annuity
    PMT = Amount of each payment
    I = Interest Rate Per Period
    n = Number of Periods

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