Find the future value of the ordinary annuity. Interest is compounded annually. R=7000; i = 0.08; n = 6 Which of the following formulas will calculate the future value? OA. F=7000 OB. F=7000 OC. F=7000 D. F=7000 (1+6)0.08_ 6 (1+0.08)6- -1 0.08 (1+0.08)6-1 0.08 (1-0.08)6 +1 0.08 + 7000

Algebra and Trigonometry (6th Edition)
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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
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Find the future value of the ordinary annuity. Interest is compounded annually.
R=7000; i = 0.08; n = 6
Which of the following formulas will calculate the future value?
OA. F=7000
OB. F=7000
O
C. F=7000
D. F = 7000
(1+6)0.08 - 1
6
(1+0.08)6-1
0.08
(1+0.08)6 - 1
0.08
(1-0.08)6 +1
0.08
+ 7000
Transcribed Image Text:Find the future value of the ordinary annuity. Interest is compounded annually. R=7000; i = 0.08; n = 6 Which of the following formulas will calculate the future value? OA. F=7000 OB. F=7000 O C. F=7000 D. F = 7000 (1+6)0.08 - 1 6 (1+0.08)6-1 0.08 (1+0.08)6 - 1 0.08 (1-0.08)6 +1 0.08 + 7000
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