Problem 6.07 – Future Value of an Annuity Payment

Fundamentals of Corporate Finance

Ross, Westerfield, and Jordan

13th Edition

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What is the future value of an annuity payment made at the end of each year for 20 and 40 years, respectively, if a deposit is made into an account that pays a fixed interest rate? How much will you have after making deposits for the given years?

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