Future Value of an Annuity

Find the *future value* of the following annuities. The
first payment in these annuities is made at the *end* of
Year 1, so they are *ordinary annuities*. Round your answers
to the nearest cent. (*Notes:* If you are using a financial
calculator, you can enter the known values and then press the
appropriate key to find the unknown variable. Then, without
clearing the TVM register, you can "override" the variable that
changes by simply entering a new value for it and then pressing the
key for the unknown variable to obtain the second answer. This
procedure can be used in many situations, to see how changes in
input variables affect the output variable. Also, note that you can
leave values in the TVM register, switch to Begin Mode, press FV,
and find the FV of the annuity due.)

- $600 per year for 10 years at
14%.

$

- $300 per year for 5 years at
7%.

$

- $600 per year for 5 years at
0%.

$

Now rework parts a, b, and c assuming that payments are made at
the *beginning* of each year; that is, they are
*annuities due*.

- $600 per year for 10 years at
14%.

$

- $300 per year for 5 years at
7%.

$

- $600 per year for 5 years at
0%.

$

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