+0  
 
+5
54
1
avatar

Use the formula for the future value of an ordinary annuity to calculate A with the monthly payment R=$150, the annual interest rate r=7.5%, and the number of monthly payments n=132

Guest Mar 6, 2017
Sort: 

1+0 Answers

 #1
avatar
0

FV = P x {[1 + R]^N - 1 / R}

FV = 150 x {[1 + 0.075/12]^132 - 1 / 0.075/12}

FV = 150 x             204.1647526..

FV =$30,624.71

Guest Mar 6, 2017

14 Online Users

avatar
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.  See details