ose that you earned a bachelor s degree and now you re teaching high school The school ct offers teachers the opportunity to take a year off to earn a master s degree To achieve goal you deposit 5000 at the end of each year in an annuity that pays 6 compounded Jally How much will you have saved at the end of five years Find the interest Click the icon to view some finance formulas Formulas In the following formulas P is the deposit made at the end of each compounding period r is the annual interest rate of the annuity in decimal form n is the number of compounding periods per year and A is the value of the annuity after t years 371 A P 1 r 1 r A P a After 5 years you will have approximately Do not round until the final answer Then round to the nearest dollar as need nt In the following formulas P is the principal amount deposited into an account ris the annual interest rate in decimal form n is the number of compounding periods per year and A is the future value of the account after t years 0 P 1 r A P 1 X