Jorgen grace made deposits of $250 at the end of each year for 12 years. the rate received was 6% annually. what is the value of the investment after 12 years?

Deposits made is $250, it is called Present value P = 250 Rate of interest r = 6% = 0.06 Time n = 12 years, 12 payments Investment value after n years FV = FV = P *(1+r) *(((1+r) ^ n) – 1)/r FV = 250 * (1 + 0.06) * (((1 + 0.06)^12) - 1)/0.06 FV = 250 * 1.06 * (((1.06)^12) - 1)/0.06 => FV = 250 * 1.06 * (2.012 - 1)/0.06 FV = 250 * 1.06 * 1.012/0.06 => FV = 250 * 1.06 * 16.87 FV = 250 * 17.88 => FV = 4470.5 So the final value of investment after 12 years is $4470.5.

I’m pretty sure the * means multiplication. so, if you multiply 5*1, it would equal 5. they are basically are-writing 5x1 as 5*1. so they would be… 5 10152025303540455055