Future Value of Multiple Annuities Assume that you contribute $210 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $310 per month for another 20 years. Given a 6.5 percent interest rate, what is the value of your retirement plan after 40 years?
$172,800
$173,736
$528,602
$479,560
2. Future Value of an Annuity What is the future value of a $540 annuity payment over 9 years if the interest rates are 8 percent?
$5,248.80
$1,079.46
$5,955.38
$6,743.28