Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. find the future values of the following ordinary a

Find the future values of the following ordinary annuities: a. FV of $800 paid each...

70.2K

Verified Solution

Question

Accounting

image
Find the future values of the following ordinary annuities: a. FV of $800 paid each 6 months for 5 years at a nominal rate of 15% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. b. FV of $400 paid each 3 months for 5 years at a nominal rate of 15% compounded quarteriy. Do not round intermediate calculations. Round your answer to the nearest cent. c. These annuities receive the same amount of cash during the 5-year period and earn interest at the same nominal rate, yet the annuity in part b ends up larger than the one in part a. Why does this occur

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

(Transient Current) An RLC series circuit has a voltage source given by E(t) = 20sin(t) V, an...

Advance Math
Q

How many ways are there to choose three different numbers each between one and a hundred so...

Advance Math
Q

The capillaries that surround the renal tubules originate at the.... Interior Vena Cava Vasa Recta Efferent arteriole Renal vein None of...

Medical Sciences
Q

A car accelerates uniformly from rest and reaches a speed of 22.0 m/s in 9.00 s....

Physics
Q

To calculate BMEP (Break mean effective pressure), what factors do i need to know?

Mechanical Engineering
Q

1. Transfer curves for three W’s of PMOS. Explain how PMOS W affects transfer curve. 2. Compare...

Electrical Engineering
Q

What is the relationship between innovation and innovation killers? What role do clear decision roles have...

General Management
Q

Which of the following is NOT true regarding the signalling pathway when light activates a...

Biology
Q

Sheridan Industries manufactures and bottles energy drinks. Last year, the company made and bottled 2518000...

Accounting
Q

Great Adventures Problem 3-1 The articles of incorporation state that the corporation will sell 35,000...

Accounting
Q

Laker Company reported the following January purchases and sales data for its only product. Required...

Accounting
Q

Tasty Subs acquired a delivery truck on October 1, 2021, for $18,500. The company estimates...

Accounting