Essay
An ordinary annuity consists of 25 annual payments of $1,000. Calculate its future value if the funds earn:
a) 6% compounded annually.
b) 6% compounded quarterly.
c) 6% compounded monthly.
Correct Answer:
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a) $54,864...View Answer
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Correct Answer:
Verified
a) $54,864...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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