SOLUTION: I need help with how to solve this problem. "What is the accumulated sum of the following stream of payments? 1,489.74 every year at the beginning of the year for 3 years?"

SOLUTION: I need help with how to solve this problem. "What is the accumulated sum of the following stream of payments? 1,489.74 every year at the beginning of the year for 3 years?"

Algebra.Com

Question 1184270: I need help with how to solve this problem. "What is the accumulated sum of the following stream of payments? 1,489.74 every year at the beginning of the year for 3 years?"

Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
each payment is 1489.74.
there are a total of 3 payments of that amount at the beginning of each year.
3 * 1489.74 = 4469.22.

that would be the accumulated sum of those 3 payments.

RELATED QUESTIONS
I would like to know if I am on the right track or not in answering this question. 5-5A... (answered by stanbon)

What is the accumulated sum of each of the following streams of payments? a. $500 a... (answered by stanbon)

Please help with the following word problem! A plane flies 390 mph in still air. It... (answered by Alan3354)

Please help me with this investment problem!! How much do I need to invest now at 8%... (answered by checkley77)

I need help with this word problem: The scale drawing of a rectangular park uses a scale... (answered by jim_thompson5910)

i have my final coming up and i need help on how to solve this problem. I don't... (answered by richwmiller)

can someone help with this problem: suppose bob receives annual payments of $12,000... (answered by Theo)

Calculate the missing information for the installment loan that is being paid off early. (answered by ikleyn)

I read the chapter but dont understand how to solve this problem ... You wish to test (answered by Boreal)