SOLUTION: Determine the amount of the ordinary annuity at the end of the given period. (See Example 3. Round your final answer to two decimal places.) $14,000 deposited annually at 6% for 1

Algebra ->  Finance -> SOLUTION: Determine the amount of the ordinary annuity at the end of the given period. (See Example 3. Round your final answer to two decimal places.) $14,000 deposited annually at 6% for 1      Log On


   

Question 1194575: Determine the amount of the ordinary annuity at the end of the given period. (See Example 3. Round your final answer to two decimal places.)
$14,000 deposited annually at 6% for 18 years
$

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
Future=m{(1+r)^18-1/r}
=14000(1.06^18-1)/0.06
=$432,679.14, round at end.