What’s the future value of a 7%, 5-year ordinary annuity that pays $300 each year? If this was an annuity due, what would its future value be
belongs to book: FUNDAMENTALS OF FINANCIAL MANAGEMENT|Eugene F.Brigham, Joel F. Houston|12th Edition| Chapter number:5| Question number:13
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FV=PMT×(1+r)n−1r=$300×(1+7%)5−17%=$1,725.22
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