SOLUTION: 1)find the value of an annuity with a periodic deposit of $3000 at the end of each year, a rate of 4% annually for a time of 20 years. 2)find the value of an annuity with a peri

Question 231129: 1)find the value of an annuity with a periodic deposit of $3000 at the end of each year, a rate of 4% annually for a time of 20 years.
2)find the value of an annuity with a periodic deposit of $50 at the end of each month of 6% monthly, for a time of 30 years.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=P((1+i)^n-1)/i
FV=3000((1.04)^20-1)/.04
FV=3000*((2.191123143)-1)/.04
FV=3273.37/.04
FV=$81,834.24
------------------
FV=50((1+.06/12)^30*12)-1/.06
FV=50*((1.005)^30*12)-1)/.06
FV=50*((6.022575213)-1)/.06
FV=251.11876/.06
FV=$4185.48
RELATED QUESTIONS
a)find the value of an annuity with a periodic deposit of $3000 at the end of each year, (answered by rfer)

A)Find the value to each annuity. Round to the nearest dollar B) Find the interest (answered by ikleyn)

Find the present value of an annuity with periodic payments of $2,000, for a period of 10 (answered by ikleyn)

You deposit $2500.00 into a savings plan at the end of each year for 3 years. The... (answered by ikleyn)

We have used the formula A = R (1 + i)n − 1 i to find the future value of... (answered by MathLover1,MathTherapy,ikleyn)

PLEASE HELP ME !! Find the periodic payment which will amount to a future value of... (answered by rothauserc,josmiceli)

Determine the yearly periodic deposit needed to reach a financial goal of $150,000 at a... (answered by rfer)

Please help me solve this word problem about Simple Interest: $1000 is deposited... (answered by ikleyn)

You would like to have $6,000.00 in 7 years for a special vacation following graduation... (answered by ikleyn)