11.8: Annuities- Practice Problems
For each of the following problems, solve for both the present- and future values of the given annuity – at the given rate and for the stated number of years . Try not to look at the solutions in the table below.
- $2000 each year for 5 years @ 5% = _________
- $1,000 each year for 10 years @ 5% = __________
- $1,000 each year for 10 years @ 10% = __________
- $500 every six months (semiannually) for 10 years @ 10% = __________