document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=764599>Question 764599</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Can someone please help me solve this ? Thank you!\r<BR>\n" );
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document.write( "Find the value of annuity.<BR>\n" );
document.write( "a_1=$5000, I= 0.08 , n =10<BR>\n" );
document.write( "What is the future value of annuity?<BR>\n" );
document.write( "$____ ( round to the nearest cent.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #465535 by </B><A HREF=/tutors/aboutme.mpl?userid=rothauserc><B>rothauserc(4718)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rothauserc><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=rothauserc><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=465535\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> here is the annuity formula to use\r<BR>\n" );
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document.write( "S(n) = a(1) * [((1+I)^n - 1) / I]<BR>\n" );
document.write( "where S(n) is value of annuity<BR>\n" );
document.write( "a(1) = $5000, I=0.08, n=10<BR>\n" );
document.write( "S(n) = 5000 * [((1+.08)^10 -1) / .08]<BR>\n" );
document.write( "S(n) = $72,432.81\r<BR>\n" );
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