Need business and finance help to invest $900 per year in an ordinary annuity

timer Asked: Nov 24th, 2015
account_balance_wallet $5

Question Description

If you invest $900 per year in an ordinary annuity where interest is not taxed, what will be of the amount of the annuity for each interest rate for a 10 year time period at 5%  7%  9%  11%  13% 

Tutor Answer

School: UT Austin

Thank you for the opportunity to help you with your question!

In each of these cases we have to evaluate the future value of the annuity

It is given by the formula

Here the A=$900

r=rate of interest.

a)When r=5% =.05

b)When r=10%=0.1

c)When r=9%

d)When r=11%

e)When r=13%

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