eBook What's the future value of an 11%, 5-year ordinary annuity that pays $400 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the nearest cent. Future Value of an Ordinary Annuity: $ Future Value of an Annuity Due: $

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Problem 5.06 (Future Value: Annuity Versus Annuity Due)
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What's the future value of an 11%, 5-year ordinary annuity that pays $400 each year? If this was an annuity due, what would its future value be? Do not round
intermediate calculations. Round your answers to the nearest cent.
Future Value of an Ordinary Annuity: $
Future Value of an Annuity Due: $
Transcribed Image Text:Problem 5.06 (Future Value: Annuity Versus Annuity Due) eBook What's the future value of an 11%, 5-year ordinary annuity that pays $400 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the nearest cent. Future Value of an Ordinary Annuity: $ Future Value of an Annuity Due: $
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