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Calculate the Future Value of an Ordinary Annuity Consisting of Quarterly

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Short Answer

Calculate the future value of an ordinary annuity consisting of quarterly payments of $1,200 for five years, if the rate of interest is 10% compounded quarterly for the first two years and 9% compounded quarterly for the last three years.


Definitions:

Protists

A diverse group of eukaryotic microorganisms, which are neither plants, animals, nor fungi, and may be unicellular or multicellular.

Free-Living

Describes organisms that do not depend on another organism for survival; they are not parasitic and can exist independently in an environment.

Aquatic

Pertaining to water; living or occurring in water, whether it be freshwater, brackish, or saltwater.

Parasitic

Pertaining to an organism that lives on or in a host organism and causes harm to the host.

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