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What is the future value of an annuity due that pays $550 per year for 18 years? Use an annual interest rate of 8.00%.
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What is the future value of an annuity due that pays $550 per year for 18 years? Use an annual interest rate of 8.00%.

User Daniel Spiewak
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1 Answer

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Answer:

$22,245.44

Step-by-step explanation:

For computing the future value we need to apply the future value which is to be shown in the attachment below:

Provided that,

Present value = $0

Rate of interest = 8%

NPER = 18 years

PMT = $550

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $22,245.44

What is the future value of an annuity due that pays $550 per year for 18 years? Use-example-1
User David Coster
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