Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 6 - Accounting and the Time Value of Money - Exercises - Page 343: E6-4c

Answer

Future value of an annuity due of $2, 000 for 15 periods at 10% = 69, 899.456

Work Step by Step

Future value of an ordinary annuity of 2,000 for 15 periods at 10%: $2000 \times 31.77248=63, 544.96$ $63, 544.96 \times 1.10 = 69, 899.456 $
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