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Question: The hospital recently sold property for $200,000. The hospital board wants to invest $60,000 at 6% in an ordinary annuity and receive annual payments of 12,000 over the next five years. What is the future value of this ordinary annuity investment?
  Edit

Answer: future value = 60000 [ ((1 + 0.06)^5- 1 )/ 0.06 ]
= 338225.57   Edit


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