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Time value of money concepts: Ordinary annuity

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!. You want to buy a car but you are $5,000 short. If you invest $2,350.00 at an annual interest rate of 12%, how long will it take you to purchase the car?

3. What is the future value of a 5-year ordinary annuity with annual payments of $2500, evaluated at 15% interest rate?

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Response discusses Time value of money concepts: Ordinary annuity

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1. You want to buy a car but you are $5,000 short. If you invest $2,350.00 at an annual interest rate of 12%, how long will it take you to purchase the ...

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