Question 628476
If you save 1800 at the end of each year at a 5% annual interest for 20 years what is the accumulated amount at the end of the 20 years using s=p((1+r)^n-1)/r?
:
s = p*{{{((1+r)^n-1)/r}}}
:
s = 1800*{{{((1+.05)^20-1)/.05}}}
:
s = 1800*{{{(1.05^20-1)/.05}}} = 1800*{{{(2.6533-1)/.05}}}
: 
s = 1800 * 33.06595 = $59.518.71