To save for her newborn son's college education, lea wilson will invest $1,000 at the beginning of each year for the next 18 years. the interest rate is 12 percent. what is the future value? use appendix
c.

You need to use this statement:

where:
P- the amount of initial capital
Fn - final capital after n-years
r- annual effective interest rate
n-number of years

Generally we need to put $1000 for the next 18 years so this statement looks like this:


and the last invest


So we need to add all years of capital




And finally we get this statement:


and after all put values we get:

$

 I don't know what value of tax you have so it is gross value.  You need to sybtract tax from this received value

 

Igot 108 hope that’s right !