the values in your tables are generated by the formula
FV = $1 ( (1+i)^n - 1)/i
if n = 1 , that becomes
FV = 1( 1+i)^1 - 1)/i
= 1( 1+i - 1)/i
= i/i
= 1
In the future value annuity table at any interest rate for one year, why is the future value interest factor of this annuity equal to 1.00?
1 answer