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## hopelessmath1 2 years 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 1. Compassionate $$\Huge{\color{purple}{\textbf{W}} \color{orange}{\cal{E}} \color{green}{\mathbb{L}} \color{blue}{\mathsf{C}} \color{maroon}{\rm{O}} \color{red}{\tt{M}} \color{gold}{\tt{E}} \space \color{orchid}{\mathbf{T}} \color{Navy}{\mathsf{O}} \space \color{OrangeRed}{\boldsymbol{O}} \color{Olive}{\mathbf{P}} \color{Lime}{\textbf{E}} \color{DarkOrchid}{\mathsf{N}} \color{Tan}{\mathtt{S}} \color{magenta}{\mathbb{T}} \color{goldenrod}{\mathsf{U}} \color{ForestGreen}{\textbf{D}} \color{Salmon}{\mathsf{Y}} \ddot \smile }$$$4000 +5%+5%+5%+5% etc 10 times $6205 or$6516

2. jdoe0001

hmmm, I was under the impression she was depositing 4000 each year, over 10 years with no simple interest, would be 40,000

3. hopelessmath1

im still confused on what to do

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