Register
Find the savings plan balance after 1 year with an APR of 13% and monthly payments of $100. Assume an ordinary annuity.
64.3k views
5 votes
Find the savings plan balance after 1 year with an APR of 13% and monthly payments of $100. Assume an ordinary annuity.

User Iakov Davydov
by
8.6k points

1 Answer

4 votes
Check the formula of future value of annuity ordinary (through Google)
FVOA=100[((1+0.13/12)^(12)-1/(0.13/12)]
FVOA=1274.15
User Furicle
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Link Copied!