Evaluate the future value of an annuity
Problem:
What is the Future Value of an Annuity with $7000 for a period of 15 years at an interest rate of 9% per annum? Is there a difference in Future Value if the payments are due at the beginning and end of the period?
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What is the Future Value of an Annuity with $7000 for a period of 15 years at an interest rate of 9% per annum?
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A retirement plan guarantees to pay to you or your estate a fixed amount for 20 years. At the time of retirement you will have $73,425 to your credit in plan.
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