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Lance Rice has decided to invest $1,200 quarterly for five years in an ordinary annuity at 8%. The total cash value of the annuity at end of year 8 is?

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fernandoalonsoc

Answer:

The future value at the end of the 5 years is :$ 29,156.84

Please note that the investment period is 5 years therefore it is impossible to calculate the future value annuity for more than 5 years.

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