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Future value of an annuity

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Future value of an annuityAmount of annuity Interest rateDeposit period? (years)

Using the values? below, answer the questions that follow. ?(Click on the icon located on the? top-right corner of the data table below in order to copy its contents into a? spreadsheet.) ?$4,000 7?% 5

a. Calculate the future value of the? annuity, assuming that it is

?(1) An ordinary annuity.

?(2) An annuity due.

b. Compare your findings in parts a?(1) and a?(2). All else being? identical, which type of annuity-ordinary or annuity due-is preferable as an? investment? Explain why.

Reference no: EM132651189

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