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Leviafan [203]
3 years ago
5

What is the future value of 25 periodic payments of $5,440 each made at the beginning of each period and compounded at 8%? (Roun

d factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
Business
1 answer:
artcher [175]3 years ago
4 0

Answer:

Explanation:

We would plug the following values in a financial calculator in order to compute the future value,

N = 25

I/Y = = r = 8

PMT = 5440

PV = 0

Fv = ??

FV =  PMT x (1 + r )(  \frac{(1+r)^{N} -1}{r} )

https://www.calculator.net/finance-calculator.html?ctype=endamount&ctargetamountv=1000000&cyearsv=25&cstartingprinciplev=0&cinterestratev=8&ccontributeamountv=5440&ciadditionat1=beginning&printit=0&x=0&y=0

^ Using the financial calculator, FV = $429,512

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