Homework Help: college math

Posted by kerry on Monday, October 22, 2012 at 11:04pm.

Calculate the future value of an ordinary annuity consisting of annual payments of $1,000 for 4 years if the payments earn 10.70% compounded annually for the first 2 years and 9% compounded annually for the last 2 years. For full marks your answer(s) should be rounded to the nearest cent.

college math - thededman, Wednesday, October 24, 2012 at 9:42am
It's probably going to be around $6. Just say $6.

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