Question

If the future value of an ordinary, six-year annuity is $8,500 and interest rates are 9.5 percent, what’s the future value of the same annuity due?

Answer 1

The future value of the same annuity due is $9307.50

Step-by-step explanation:

FVA6 = 8500*(1 + 9.5%)

= $9307.50

Therefore, The future value of the same annuity due is $9307.50