A community for students.
Here's the question you clicked on:
 0 viewing
 one year ago
You deposit $4,000 at the end of each year into an ordinary annuity with an interest rate of 5% compounded annually. What will be the value of the annuity after 10 years? Do not round until the final answer; then round to the nearest dollar as needed.
 one year ago
You deposit $4,000 at the end of each year into an ordinary annuity with an interest rate of 5% compounded annually. What will be the value of the annuity after 10 years? Do not round until the final answer; then round to the nearest dollar as needed.

This Question is Closed

Compassionate
 one year ago
Best ResponseYou've already chosen the best response.1\(\Huge{\color{purple}{\textbf{W}} \color{orange}{\cal{E}} \color{green}{\mathbb{L}} \color{blue}{\mathsf{C}} \color{maroon}{\rm{O}} \color{red}{\tt{M}} \color{gold}{\tt{E}} \space \color{orchid}{\mathbf{T}} \color{Navy}{\mathsf{O}} \space \color{OrangeRed}{\boldsymbol{O}} \color{Olive}{\mathbf{P}} \color{Lime}{\textbf{E}} \color{DarkOrchid}{\mathsf{N}} \color{Tan}{\mathtt{S}} \color{magenta}{\mathbb{T}} \color{goldenrod}{\mathsf{U}} \color{ForestGreen}{\textbf{D}} \color{Salmon}{\mathsf{Y}} \ddot \smile }\) $4000 +5%+5%+5%+5% etc 10 times $6205 or $6516

jdoe0001
 one year ago
Best ResponseYou've already chosen the best response.0hmmm, I was under the impression she was depositing 4000 each year, over 10 years with no simple interest, would be 40,000

hopelessmath1
 one year ago
Best ResponseYou've already chosen the best response.0im still confused on what to do
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.