# Answered Essay: What is the future value of 25 periodic payments of \$5,440 each made at the beginning of each period a

What is the future value of 25 periodic payments of \$5,440 each made at the beginning of each period and compounded at 8%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

The future value

Your answer is incorrect. Try again Click here to view factor tables what is the future value of 25 periodic payments of \$5,440 each made at the beginning of each period and compounded at 8%? ( 458,581.) The future value 397696

We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.

A= 5440 ( 1+ 8/100) ^ 25 + 5440 ( 1+ 8/100) ^ 24 + 5440 ( 1+ 8/100) ^ 23 + …..5440 ( 1+ 8/100) ^ 1

or A = 5440* [( 1+ 8/100) ^ 25 + ( 1+ 8/100) ^ 24 + ( 1+ 8/100) ^ 23 + …. +( 1+ 8/100) ^ 1]

or A= 5440* 78.95442

= \$429,512

Hence the correct answer is \$ 429,512

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