Questions and Answers for Amortization
Amortization
Hercules is saving for his retirement by putting $175 each month into an ordinary annuity. if the annuity pays and...
Use the formula for future value of an ordinary annutiy: P = PMT [((1 + r)n - 1) / r] Where: P = The future value of the annuity stream to be paid in the future PMT = The amount of each annuity...