Question 1121031
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<pre>
It is the Ordinary annuity saving plan.


The formula is


S = {{{1000*((1.057^18-1)/0.057)}}} = 30041.67.
</pre>

On Ordinary annuity saving plan, &nbsp;see the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Ordinary-Annuity-saving-plans-and-geometric-progressions.lesson>Ordinary Annuity saving plans and geometric progressions</A>

in this site.