problem: Use excel spreadsheet and the FV
R=annual interest rate and
t= number of years.
When there are multiple cash flows every year, the amount of the annuity shown below is the amount of each individual cash flow [not the sum cash flow for the year]. Give all answers to the nearest dollar.
The annual annuity payment that will provide 13,400 dollars in 8 years when R= 9 percent compounded annually.