Suppose Chris starts saving in 3 years from today. He will save $20,000 each year for 6 years (until the end of year 8). Then he leaves that money in the same account until the end of year 10. How much will he have saved at the end of year 10 if he earns 4.3% interest.

FV= $145,406.11

Explanation:

Giving the following information:

Annual deposit= $20,000

Interest rate= 4.3%

First, we need to calculate the value of the investment at the end of year 8. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {20,000*[(1.043^6) - 1]} / 0.043

FV= $133,663.87

Now, the value at the end of the 10th year:

FV= PV*(1+i)^n

FV= 133,663.87*(1.043^2)

FV= $145,406.11

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.

answer; synthetic production system;