Future value of an annuity: streams of payment
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What is the accumulated sum of each of the following streams of payments?
1. $500 a year for 10 years compounded annually at 5 percent
2. $100 a year for 5 years compounded annually at 10 percent
3. $35 a year for 7 years compounded annually at 7 percent
4. $25 a year for 3 years compounded annually at 2 percent
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We are being asked to calculate the future value of an annuity
Annuity years (n) interest ( r ) Future value factor for annuity= ((1+r)^n-1)/r= Accumulated ...
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