Question

Find the amount of the annuity. Round to the nearest cent.

Amount of Each Deposit: $2,500

Deposited: Semiannually

Rate Per Year: 10%

Number of Years: 8

Answer 1

FVAO=2500[((1+0.1/2)^(2*8)-1)/(0.1/2)]
FVAO=59143.73