What is a balanced annuity?

What is the future value of a 5-year annuity due that promises to pay you $300 each year? Assume that all paym

  • What is the future value of a 5-year annuity due that promises to pay you $300 each year? Assume that all payments are reinvested at 7 percent a year, until Year 5.

  • Answer:

    1845.987 300* [(1 + 0.07)^5 - 1] / 0.07

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