FV = A x [((1+r)^n)-1]/r
A = $12,000
r=0.08
n=3
FV = $12,000 x [((1.08)^3)-1]/0.08 = A ($39,337.20)
What Is The Future Value Of An Ordinary Annuity Of $12,000 Per Year, For Three Years, At 9% Interest Compounded Annually? A: $39,337.20 B: $39,240.00 C: $36,000.00 D: $14,442.75
FV = A x [((1+r)^n)-1]/r
A = $12,000
r=0.08
n=3
FV = $12,000 x [((1.08)^3)-1]/0.08 = A ($39,337.20)
$39,337.20
A.39,337.20
39337.20
What is the future vaue of an ordinary annuity of 12,000 per year for three years,at 9% compounded annually