Suppose that you earned aâ bachelor's degree and nowâ you're teaching high school. the school district offers teachers the opportunity to take a year off to earn aâ master's degree. to achieve thisâ goal, you deposit $ 3000 at the end of each year in an annuity that pays 7% compounded annually.
a. a.
how much will you have saved at the end of fiveâ years?
b. b.
find the interest.
a. after 5 âyears, you will have approximately â$