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Future Value

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?

Solution Summary

The Future Value of Annuity is calculated using function in Excel highlighting the difference between if the payments are made at the beginning and end of the period.

$2.19