# Annuity math

posted by .

Calculate the future value of S of an annuity using the following formula: S =R(1+i)^n-1/i) given R=250,i=0.001;n=13 please show the workout thankyou

• Annuity math -

S = 250(1.001^13 - 1)/.001
= 3269.57

after punching it in my calculator exactly that way, using x for the multiplication and using brackets the way shown in the expression

## Similar Questions

1. ### Annuities

Can someone tell me if this is ordinary annuity of future or ordinary values sinking funds present value or what is it. The question is You are earning an average of 46500 and will retire in 10 years. If you put 20% of your gross average …

Calculate the future of the following Ordinary Annuities. Round to the Nearest cent when necessary. Annunity Payment (\$3,000) Payment Frequency Every (6) Months Time Period (years) 10 Interest Compounded (Semiannually) Future Value …
3. ### Finite Math

The amount (future value) of an ordinary annuity is given. Find the periodic payments. A = \$2500, and the annuity earns 6.5% compounded annually for 4 years.
4. ### Finite Math

The amount (future value) of an ordinary annuity is given. Find the periodic payments. A = \$14,500, and the annuity earns 6% compounded monthly for 10 years.
5. ### math

Calculate the future value of S of an annuity using the following formula: S =R(1+i)^n-1/i) given R=250,i=0.001;n=13 please show the workout thankyou

7. ### MATH

Use the following time value of money tables to answer the following questions. Assume that the annual rate of interest is 6% for each of the four following problems. i = 6% Time Periods (n) Future Value of 1 Present Value of 1 Future …
8. ### Finite math

Consider the following annuity scheme: regular payments of \$200 are made every two months at the end of the month (in other words, there are six equally spaced payments over the year) into an account with a nominal rate of 6% compounded …
9. ### Math

James has set up an ordinary annuity to save for his retirement in 19 years. If his monthly payments are \$250 and the annuity has an annual interest rate of 7.5%, what will be the value of the annuity when he retires?
10. ### Math

James has set up an ordinary annuity to save for his retirement in 19 years. If his monthly payments are \$250 and the annuity has an annual interest rate of 7.5%, what will be the value of the annuity when he retires?

More Similar Questions