Calculate the future value of an annuity of $5,000 each year for eight years, deposited at 6 percent
What will be an ideal response?
FV = CF[(1 + r)n - 1] / r = $5,000[(1.06)8 - 1] / 0.06 = $49,487.34
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What will be an ideal response?
FV = CF[(1 + r)n - 1] / r = $5,000[(1.06)8 - 1] / 0.06 = $49,487.34