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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.
 10 months ago
 10 months 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.
 10 months ago
 10 months ago

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CompassionateBest 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
 10 months ago

jdoe0001Best ResponseYou've already chosen the best response.0
hmmm, I was under the impression she was depositing 4000 each year, over 10 years with no simple interest, would be 40,000
 10 months ago

hopelessmath1Best ResponseYou've already chosen the best response.0
im still confused on what to do
 10 months ago
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