document.write( "Question 1203871: you deposite 5000 each year in to an account. earning 4% interest compounded annually how much will you have in the account in 20 years \n" ); document.write( "
Algebra.Com's Answer #839743 by Theo(13342)\"\" \"About 
You can put this solution on YOUR website!
i used the calculator at https://arachnoid.com/finance/\r
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\n" ); document.write( "\n" ); document.write( "here are the results.\r
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\n" ); document.write( "\n" ); document.write( "present value = 0
\n" ); document.write( "future value = 0
\n" ); document.write( "amount invested at the end of each year = 5000.
\n" ); document.write( "interest rate per year = 4%.
\n" ); document.write( "number of year = 20.\r
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\n" ); document.write( "\n" ); document.write( "calculator says that the future value is equal to 148,890.39.\r
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\n" ); document.write( "\n" ); document.write( "this is similar to the results you would get from the sum of a geometric series.
\n" ); document.write( "the formula for that is Sn = A * (1 - r^n)/(1-r).
\n" ); document.write( "A is the yearly payment.
\n" ); document.write( "r is the growth rate per year.
\n" ); document.write( "n is the number of years.
\n" ); document.write( "the formula becomes An = 5000 * (1 - 1.04^20)/(1-1.04) = 148,890.39.\r
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