fvSemiAnnuallyPaidAnnuityCompSemiAnnually {tvmComp}

Calculates Future Value of Semi-Annual Paid Ordinary Annuity or Annuity Due that is Compounded Semi-Annually.

Description

Calculates Future Value of Semi-Annual Paid Ordinary Annuity or Annuity Due that is Compounded Semi-Annually.

Usage

fvSemiAnnuallyPaidAnnuityCompSemiAnnually(r, n, pmt, bgn)

Arguments

r

A number.

n

A number.

pmt

A number.

bgn

A number.

Details

According to Hummelbrunner,S.A. et al. (2020), an Annuity is a series of payments, usually of equal size, made at periodic time intervals. Various types of annuities are identified based on the term of an annuity, the date of payment and the length of the interest compounding or conversion period. The term Annuity applies to all periodic payment plans, the most frequent of which require annual, semi-annual, quarterly, or monthly payments. Practical applications of annuities are widely encountered in the finances of both businesses and individuals. Periodic contributions to student loan payments, car loan payments, and mortgage payments are common examples of Annuities in personal finance. Businesses may encounter Annuities in the form of equipment loans, mortgages, lease contracts and bond interest payments. The method fvSemiAnnuallyPaidAnnuityCompSemiAnnually() is developed to calculates Future Value of Semi-Annually Paid Ordinary Annuity or Annuity Due that is Compounded Semi-Annually. The method gives Future Value when values are passed to its four arguments. Here r is annual rate, n is number of years, pmt is amount of one annuity and bgn is the mode (1 when annuity payment occurs at the beginning of the period; 0 for end of period payments)

Value

Input values to four arguments r , n , pmt and bgn.

Author(s)

MaheshP Kumar, [e-mail]

References

Hummelbrunner,S.A., Halliday,K., Hassanlou,A.R. (2020). Contemporary Business Mathematics with Canadian Applications (12th Edition). Pearson Education Canada. ISBN 9780135285015, https://bookshelf.vitalsource.com/books/9780135406380.

Examples

fvSemiAnnuallyPaidAnnuityCompSemiAnnually(0.08,10,-50,1)
fvSemiAnnuallyPaidAnnuityCompSemiAnnually(0.08,10,-50,0)
fvSemiAnnuallyPaidAnnuityCompSemiAnnually(.08,10,50,1)
fvSemiAnnuallyPaidAnnuityCompSemiAnnually(.08,10,50,0)