SOLUTION: 1)find the value of an annuity with a periodic deposit of $3000 at the end of each year, a rate of 4% annually for a time of 20 years.
2)find the value of an annuity with a peri
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-> SOLUTION: 1)find the value of an annuity with a periodic deposit of $3000 at the end of each year, a rate of 4% annually for a time of 20 years.
2)find the value of an annuity with a peri
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Question 231129: 1)find the value of an annuity with a periodic deposit of $3000 at the end of each year, a rate of 4% annually for a time of 20 years.
2)find the value of an annuity with a periodic deposit of $50 at the end of each month of 6% monthly, for a time of 30 years. Answer by rfer(16322) (Show Source):
You can put this solution on YOUR website! FV=P((1+i)^n-1)/i
FV=3000((1.04)^20-1)/.04
FV=3000*((2.191123143)-1)/.04
FV=3273.37/.04
FV=$81,834.24
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FV=50((1+.06/12)^30*12)-1/.06
FV=50*((1.005)^30*12)-1)/.06
FV=50*((6.022575213)-1)/.06
FV=251.11876/.06
FV=$4185.48
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