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Use the following 10% interest factors.
Present Value of Ordinary Annuity Future Value of Ordinary Annuity
7 periods 4.8684 9.48717
8 periods 5.3349 11.43589
9 periods 5.7590 13.57948
Problem 1: If $18000 is deposited annually starting on January 1, 2020 and it earns 10%, what will the balance be on December 31, 2027?
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Calculate the following using the Bankrate calculator. You may use the Bankrate calculator for the remainder of the questions on this worksheet.
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