Question

What is the future value of a 5 yr. annuity due that promises to pay $300.00 each yr? Assume that all payments are reinvested at 7% a yr., until Yr. 5.
economyst
Take a shot. What do you think?
cj
i think you take $300.times 7% times 5 yrs.
economyst
yes. But be sure to compound he interest.