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anonymous

  • one year ago

If Bob deposits $5,000 at the beginning of each year for 10 years in an account paying 12% interest compounded annually, find the amount he will have at the end of the 10 years. a.$98,272.92 c.$94,625.32 b.$98,828.28 d.$95,876.82

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  1. triciaal
    • one year ago
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    |dw:1434994186197:dw|

  2. anonymous
    • one year ago
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    i need to be able to find the annuity of it.

  3. triciaal
    • one year ago
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    oops he deposits EACH year

  4. triciaal
    • one year ago
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    |dw:1434994512979:dw|

  5. triciaal
    • one year ago
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    let me double check the exponential formula

  6. triciaal
    • one year ago
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    need the future value of an annunity

  7. anonymous
    • one year ago
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    so would i use the ordinary annuity value formula of it or the annuity due formula?

  8. anonymous
    • one year ago
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    ordinary annuity formula: FV=P*((1+i)^n -1/i) or annuity due formula: FV=P((1*i)^n -1/i) *(1+i)

  9. triciaal
    • one year ago
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    value

  10. triciaal
    • one year ago
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    |dw:1434994958771:dw|

  11. triciaal
    • one year ago
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    |dw:1434995069747:dw|

  12. anonymous
    • one year ago
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    wht is it powered to nxt to the 1?

  13. triciaal
    • one year ago
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    I don't see this option verifying

  14. anonymous
    • one year ago
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    my calculator gave me this 115544.94822709

  15. triciaal
    • one year ago
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    I have 87743.68

  16. triciaal
    • one year ago
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    got it

  17. triciaal
    • one year ago
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    Adjust the formula because it is at the beginning of the year 87743.68 * 1.12 = option A

  18. anonymous
    • one year ago
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    thanks

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