Question
1.Sabrina deposits $500 in an account at the beginning of each year for 5 years. If the account pays 4% interest annually, how much money
1.Sabrina deposits $500 in an account at the beginning of each year for 5 years. If the account pays 4% interest annually, how much money will be in Sabrina's account at the end of 5 years?
2.Calculate the future value of an annuity, with case A being an ordinary annuity and case B being an annuity due.
Case | Annuity | Interest Rate (%) | Deposit Period (Yrs) | Future Value ($) |
|
A | 17000 | 6 | 6 | ||
B | 8000 | 9 | 9 |
|
3.Sabrina deposits $300 in an account at the end of each year for 4 years. If the account pays 4% interest annually, how much money will be in Sabrina's account at the end of 4 years?
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