Future Value of an Ordinary Annuity

Kailee saves $500 at the end of each quarter in an ordinary annuity earning 6.2% interest compounded quarterly. How much will Kailee have saved in 20 years?

• Future value = 78,058.07

• Future value = 78,158.07

• Future value = 87,258.07

• Future value = 38,158.07

Kiersten deposits $500 in an ordinary annuity at the end of each month in an account that earns 6% interest compounded monthly. What is the future value of Kiersten's annuity in 15 years?

• Future value = 148,107.36

• Future value = 48,107.33

• Future value = 145,409.36

• Future value = 55,409.36

Phil deposits $5000 in an ordinary annuity at the end of each quarter in an account that earns 6% interest compounded quarterly. What is the future value of Phil's annuity in 3 years?

• Future value = 65,206.05

• Future value = 56,206.05

• Future value = 196,680.32

• Future value = 65,680.32

Summer saves $2,000 at the end of each six month period in an ordinary annuity earning 6% interest compounded semiannually. How much will Summer have saved in 4 years

• Future value = 16,000

• Future value = 27,784.68

• Future value = 32,000

• Future value = 17,784.68

Kiersten deposits $200 in an ordinary annuity at the end of each month in an account that earns 7% interest compounded monthly. What is the future value of Kiersten's annuity in 40 years?

• Future value = 524,962.68

• Future value = 425,962.68

• Futur value = 544,962.68

• Future value = 96000