Mathematics, 22.07.2019 01:30 scarlettp13
Find the amount of annuity. amount of each deposit: $295 deposited: quarterly rate per year: 10% number of years: 6 type of annuity: due
Answers: 2
![FV_{ad}=P_m*(1+r)*[\frac{(1+r)^T-1}{r} ] \\\\ FV_{ad}=295*(1+0.025)*[\frac{(1+0.025)^{24}-1}{0.025} ] \\\\ FV_{ad}=295*(1.025)*[\frac{(1.025)^{24}-1}{0.025} ] \\\\ FV_{ad}=295*(1.025)*[\frac{(1.80872595)-1}{0.025} ] \\\\ FV_{ad}=295*(1.025)*[\frac{0.80872595}{0.025} ] \\\\ FV_{ad}=295*(1.025)*(32.34903798) \\\\ FV_{ad}=9,781.54 \;dollars](/tpl/images/0117/7641/be378.png)
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Find the amount of annuity. amount of each deposit: $295 deposited: quarterly rate per year: 10%...
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