Use the future value formula to find the indicated value.
n=27; i=0.04; pmt=$109; fv=?
fv=

The future value = $1780

Step-by-step explanation:

* Lets explain the formula of the future value

- Future Value of an annuity is used to determine the future value of a

 stream of equal payments.

- The future value of an annuity formula can also be used to determine

  the number of payments, the interest rate, and the amount of the

  recurring payments

- The future value formula is

 where:

# FV = Future Value of the annuity

# PMT= Payment amount  

# i = Annual interest rate  

# n = Number of payments

* Lets solve the problem

- n = 27

- i = 0.04

- PMT = $109

- To find FV lets use the formula above

∵ n = 27 , i = 0.04 , PMT = 109

∴

∴

∴ FV = 1779.92 ≅ 1780

∴ The future value = $1780

the function makes a strait line horizontally with no x intercept but a y intercept at 9.