SOLUTION: you expect to receive $1,000 at the end of each of the next 3 years. you will deposit these payments into an account which pays 10 percent compounded semiannually. what is the futu

Question 1177850: you expect to receive $1,000 at the end of each of the next 3 years. you will deposit these payments into an account which pays 10 percent compounded semiannually. what is the future value of these payments, that is, the value at the end of the third year?
Found 2 solutions by MathLover1, ikleyn:
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!

The Future Value of annuity can be represented as:

% or

Answer by ikleyn(52932) (Show Source): You can put this solution on YOUR website!
.

The solution by @MathLover1 is INCORRECT.

She INCORRECTLY treat the problem as an Ordinary Annuity saving plan.

It is NOT an Ordinary Annuity, because it is deposited annually, but compounded semiannually.

////////////

Looking into her activity in last several days, I start thinking that

@MathLover1 presents a real danger for any visitor to this forum, because she provides wrong solutions even to simplest Math problems.

See my notes to her posts in past two days

https://www.algebra.com/algebra/homework/Finance/Finance.faq.question.1177850.html

https://www.algebra.com/algebra/homework/Volume/Volume.faq.question.1177847.html

https://www.algebra.com/algebra/homework/Surface-area/Surface-area.faq.question.1177846.html

https://www.algebra.com/algebra/homework/Triangles/Triangles.faq.question.1177800.html

https://www.algebra.com/algebra/homework/Triangles/Triangles.faq.question.1177804.html

RELATED QUESTIONS
What will the future value be if you open the account with $1,000 today, and then make... (answered by ikleyn)
You deposit $ 150 into an account at the beginning of each month. The bank pays you 3 %... (answered by Theo)
If you make payments at the end of each month into an account that earns 6% annual... (answered by ikleyn)
4. You are planning to deposit $15,000 into a bank account at the end of each year for 5... (answered by Theo)
you deposit $90 into an account at the beginning of each month.The bank pays you 10%... (answered by Theo,ikleyn)
An investment will provide you with $100 at the end of each year for the next 10 years.... (answered by Theo)
you have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000... (answered by Theo)
You deposit $1000 at the end of each year into an account earning 4% interest compounded... (answered by ikleyn)
You want to be able to withdraw $40,000 from your account each year for 25 years after... (answered by greenestamps)