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April 19th, 2019, 03:07 PM   #11
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C/Y = 1 means only compounded once per year ... does the original question state the compounding period? I don't see any reference to it in your first post.
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April 19th, 2019, 05:38 PM   #12
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here is my answers can someone correct if i am wrong

thanks

https://imgur.com/a/mmBujDP
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April 22nd, 2019, 02:19 PM   #13
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what type of annuity is this
Is THIS CONSIDERED AS AN ordinary annuity or annuity due?

Future Value:
$31,185.86

Total dep/pmts:
$24,000.00

Interest earned:
$7,185.86

THANKS
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April 22nd, 2019, 06:58 PM   #14
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Monthly annuity due: payment starts immediately; beginning of month (like rent)

Ordinary annuity: payment starts 1 month later; end of month (like mortgage pay't)
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