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Cindy Medavoy will invest $ 8,780a year for 20years in a fund that will earn 10% annual interest. If the first payment into the fund
Cindy Medavoy will invest $ 8,780a year for 20years in a fund that will earn 10% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 20years? If the first payment occurs at year-end, what amount will be in the fund in 20years?
So I learned how to do this by looking at an annuity table but is there a way I can solve this on a financial calculator? The answer is $ 553,162 at year-end and $ 502,875 for the amount in 20 years.
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