SOLUTION: What is 5000 invested each year for 17 years at 8%?

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Question 1163427: What is 5000 invested each year for 17 years at 8%?
Answer by ikleyn(52886) About Me  (Show Source):
You can put this solution on YOUR website!
.

It is


         FV = 5000%2A%28%28%281%2B0.08%29%5E17-1%29%2F0.08%29 = 168751.13 dollars.

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For all explanations and details, see the lessons
    - Ordinary Annuity saving plans and geometric progressions
    - Solved problems on Ordinary Annuity saving plans
in this site.

The lessons contain  EVERYTHING  you need to know about this subject,  in clear and compact form.

When you learn from these lessons,  you will be able to do similar calculations in semi-automatic mode.


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comment from student: I must have incorrectly posed the question... when I use the online calculator from NerdWallet
(which I discovered after sending in the question) it comes out 207,221. I think the difference is my desire
to contribute 5,000 each year, not just initially. Thanks.
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My response :   I read your comment and can not understand,  what this collection of words means.

More concretely, I do not understand what you want from me . . .