document.write( "Question 1088306: Find the future value of an annuity of $1100 paid at the end of each year for 15 years, if interest is earned at a rate of 6%, compounded annually. (Round your answer to the nearest cent.)
\n" ); document.write( "my answer was wrong... $27,139.78 \n" ); document.write( "

Algebra.Com's Answer #702607 by MathTherapy(10551) $\"\"$ $\"About$

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\n" ); document.write( "Find the future value of an annuity of $1100 paid at the end of each year for 15 years, if interest is earned at a rate of 6%, compounded annually. (Round your answer to the nearest cent.)
\n" ); document.write( "my answer was wrong... $27,139.78
\n" ); document.write( "

Good try!!
\n" );
document.write( "What you calculated was an ANNUITY DUE, or an annuity for which payments are made at the BEGINNING of the year. 
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document.write( "You actually want the future value, based on payments at the END of the year, as mentioned. 
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document.write( "The correct answer is: . 
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document.write( "IGNORE the other person who responded and who got a number even larger than yours. \n" );
document.write( "

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