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What is the future value in 27 years

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Reference no: EM131843397

Please confirm calculation:

What is the future value in 27 years of an ordinary annuity cash flow of $704 every quarter of a year at the end of a period, at an annual interest rate of 8.89 percent per year, compounded quarterly

=FV(8.89%/4,27*4,0,-704,0) = 7,561.26

Reference no: EM131843397

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