SOLUTION: What is the accumulated sum of each of the following streams of
payments?
a. $500 a year for 10 years compounded annually at 5 percent
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-> SOLUTION: What is the accumulated sum of each of the following streams of
payments?
a. $500 a year for 10 years compounded annually at 5 percent
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Question 235498: What is the accumulated sum of each of the following streams of
payments?
a. $500 a year for 10 years compounded annually at 5 percent
You can put this solution on YOUR website! What is the accumulated sum of each of the following streams of
payments?
a. $500 a year for 10 years compounded annually at 5 percent
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A(t) = P(1+(r/n))^(nt)
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A(10) = 500(1+(0.05/1)^(1*10)
A(10) = 500(1.05)^10
A(10) = 500*1.6289
A(10) = $814.45
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Cheers,
Stan H.
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