anonymous
  • anonymous
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
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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triciaal
  • triciaal
|dw:1434994186197:dw|
anonymous
  • anonymous
i need to be able to find the annuity of it.
triciaal
  • triciaal
oops he deposits EACH year

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triciaal
  • triciaal
|dw:1434994512979:dw|
triciaal
  • triciaal
let me double check the exponential formula
triciaal
  • triciaal
need the future value of an annunity
anonymous
  • anonymous
so would i use the ordinary annuity value formula of it or the annuity due formula?
anonymous
  • anonymous
ordinary annuity formula: FV=P*((1+i)^n -1/i) or annuity due formula: FV=P((1*i)^n -1/i) *(1+i)
triciaal
  • triciaal
value
triciaal
  • triciaal
|dw:1434994958771:dw|
triciaal
  • triciaal
|dw:1434995069747:dw|
anonymous
  • anonymous
wht is it powered to nxt to the 1?
triciaal
  • triciaal
I don't see this option verifying
anonymous
  • anonymous
my calculator gave me this 115544.94822709
triciaal
  • triciaal
I have 87743.68
triciaal
  • triciaal
got it
triciaal
  • triciaal
Adjust the formula because it is at the beginning of the year 87743.68 * 1.12 = option A
anonymous
  • anonymous
thanks

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