Find the future values of these ordinary annuities Compoundi

Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.

$500 per year for 6 years at 8%

$250 per year for 3 years at 4%

$700 per year for 16 years at 0%

Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent. ]

$500 per year for 6 years at 8%.

$ $250 per year for 3 years at 4%.

$ $700 per year for 16 years at 0%.

Future Value = Present Value * (1+ Rate of Interest /100) ^ Time

= $ 500 * ( 1+ 8/100) ^ 6

= $ 793.4371615

= $ 793.44

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Future Value = Present Value * (1+ Rate of Interest /100) ^ Time

= $ 250* ( 1+ 4/100) ^3

= 281.216

= $ 281.22

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Future Value = Present Value * (1+ Rate of Interest /100) ^ Time

= $ 700* ( 1+ 0/100) ^ 16

= $ 700.00

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Future Value of annuity due = Future Value of ordinary Annuity * ( 1+ Rate of Interest /100)

$500 per year for 6 years at 8%:

=$ 793.4371615 * (1+8/100)

= $ 856.91

$250 per year for 3 years at 4%

= 281.216 * (1.04)

= $ 292.46

$700 per year for 16 years at 0%

= 700 * 1

= $ 700.00