You have decided to start saving money for your future. What is the future value of a 17-year annuity of $2.500 per year, assuming that you make your first payment today and the interest rate is 7 percent? (Enter your answer as a positive number rounded to 2 decimal places.)

You have decided to start saving money for your future. What is the future value of a 17-year annuity of $2.500 per year, assuming that you make your first payment today and the interest rate is 7 percent? (Enter your answer as a positive number rounded to 2 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You have decided to start saving money for your future. What is the future value of a 17-year annuity of $2.500 per year, assuming that
you make your first payment today and the interest rate is 7 percent? (Enter your answer as a positive number rounded to 2 decimal
places.)
Answer is complete but not entirely correct.
Future
value
102.497.50
L

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