Question 1203871
i used the calculator at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>


here are the results.


<img src = "http://theo.x10hosting.com/2023/092404.jpg">


present value = 0
future value = 0
amount invested at the end of each year = 5000.
interest rate per year = 4%.
number of year = 20.


calculator says that the future value is equal to 148,890.39.


this is similar to the results you would get from the sum of a geometric series.
the formula for that is Sn = A * (1 - r^n)/(1-r).
A is the yearly payment.
r is the growth rate per year.
n is the number of years.
the formula becomes An = 5000 * (1 - 1.04^20)/(1-1.04) = 148,890.39.