Calculating the Present and Future Value
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1. How much will you have at the end of 22 years if put $8680 per year at the end of each year into a saving account earning 1.6% annually?
2. How much do you need to invest today to have $89,000 at the end of 19 years if you can earn 6.5% annually?
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Solution Summary
This response looks at two problems. Solution to first problem depicts the steps to calculate the FV of an ordinary annuity. Solution to second problem calculates the PV of given cash flow.
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1.
Annual deposit=R=$8680
Number of periods=n=22
Interest ...
Education
- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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