can someone correct these for me thanks..
Find the effective rate corresponding to the given nominal 18% compounded quarterly.
My answer: 19.2%
Find the future value of the ordinary annuity If R= $2500,I=5% interest compounded quarterly for 16 years.
My answer: Future value $59,143.72
Find the present value of the ordinary annuity payments of $17000 annually for 10 years at 12% compounded annually.
my answer $1,184,908.87
10. Obviously wrong. 17,000 x 10 years is 170, 000 and the present value cannot be more than that.
7. No, I get considerably less than that.
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