Homework SoursehttpimgurcomW2ey5Xc Question is in the link Thanks SolutionF
http://imgur.com/W2ey5Xc
Question is in the link. Thanks :)
Solution
For an annuity immediate,
FV = A [(1+i)^n - 1] / i
where
i = 0.03/4 = 0.0075
Thus, as n = 12*7 = 84 payments,
FV = A [(1+i)^n - 1] / d
= 695*((1+0.0075)^84 - 1)/0.0075
= 80916.71527 [ANSWER]
![http://imgur.com/W2ey5Xc Question is in the link. Thanks :)SolutionFor an annuity immediate, FV = A [(1+i)^n - 1] / i where i = 0.03/4 = 0.0075 Thus, as n = 12*](/WebImages/17/httpimgurcomw2ey5xc-question-is-in-the-link-thanks-solutionf-1033079-1761535658-0.webp "http://imgur.com/W2ey5Xc Question is in the link. Thanks :)SolutionFor an annuity immediate, FV = A [(1+i)^n - 1] / i where i = 0.03/4 = 0.0075 Thus, as n = 12*")
