Find the future value of the following ordinary annuity. Payments are made and interest is compounded as given. R=$1.000 7% intorot

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.4: Mathematics Of Finance
Problem 26E
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Find the future value of the following ordinary annuity. Payments are made and interest is compounded as given.
R= $1,000, 7% interest compounded quarterly for 8 years
What is the future value of the ordinary annuity?
(Round to the nearest dollar as needed.)
V.
Transcribed Image Text:Find the future value of the following ordinary annuity. Payments are made and interest is compounded as given. R= $1,000, 7% interest compounded quarterly for 8 years What is the future value of the ordinary annuity? (Round to the nearest dollar as needed.) V.
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