Financial Technology Center - School of Business - Central Connecticut State University
What is the future value of a 5-year ordinary annuity
with Monthly payments of $200, evaluated at a 8 percent interest rate?
Financial calculator solution:
Inputs:
N =5*12=60
I = 8/12=0.6667
PV = 0
PMT = -200
Output: FV =$ 14,695.73