Answered: Find the future value of the following…

Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given. R= $9000, 5% interest compounded annually for 15 years

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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Question

Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given.
R = $9000, 5% interest compounded annually for 15 years
What is the future value of the ordinary annuity?
$
(Round to the nearest cent.)

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