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beccaoalves

  • 3 years ago

Jessica deposits $5,000 at the end of each year in an account earning 2.45% interest, compounded annually. What is the future value of this annuity after 5 years of investing?

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  1. slaaibak
    • 3 years ago
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    \[PV = 5000 \times {{1.0245^5 -1} \over {0.0245}}\]

  2. slaaibak
    • 3 years ago
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    Sorry, meant FV, not PV

  3. beccaoalves
    • 3 years ago
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    Thanks!

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