Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given. R=$4000, 5% interest compounded annually for 20 years
Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given. R=$4000, 5% interest compounded annually for 20 years
Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
ChapterP: Preliminary Concepts
SectionP.CT: Test
Problem 1CT
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![Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given.
R = $4000, 5% interest compounded annually for 20 years
What is the future value of the ordinary annuity?
$
(Round to the nearest cent.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F24dc6e98-c8af-4d8b-8b32-07d76b901d13%2Fdde5bf11-aa2e-4538-8c17-161aa5656f5e%2Fjlalz0o_processed.png&w=3840&q=75)
Transcribed Image Text:Find the future value of the following ordinary annuities. Payments are made and interest is compounded as given.
R = $4000, 5% interest compounded annually for 20 years
What is the future value of the ordinary annuity?
$
(Round to the nearest cent.)
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