Find the future value for the ordinary annuity with the given payment and interest rate. PMT = $700; 1.85% compounded semiannually for 4 years. The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Find the future value for the ordinary annuity with the given payment and interest rate. PMT = $700; 1.85% compounded semiannually for 4 years. The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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Question

Find the future value for the ordinary annuity with the given payment and interest rate.
PMT = $700; 1.85% compounded semiannually for 4 years.
The future value of the ordinary annuity is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)

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