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Future Value of An Ordinary Annuity(Accounting)

Accounting
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Instead of investing the entire $1,000,000, invest $300,000 today and plan to make 9 equal annual investments into the fund beginning 1 yr from today. What should the payments be if you plan to establish $1,999,000 foundation at the end of 9 yrs?

Mar 8th, 2015

1999000-300,000=1699000 subtract first payment

1699000/9 = 188777.77 divide the rest into nine equal payments

You would need to make payments of 188,777.77 a year for 9 years

Mar 8th, 2015

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