Question

Petey set up an investment program using an annuity due with payments of $3,000 at the beginning of each quarter. Find the interest earned on the investment if he makes payments for 5 years into an account expected to pay 8% compounded quarterly.

A. $74,349.96
B. $14,349.96
C. $77,349.96
D. $17,349.96

Answer 1

c

Explanation:

you would do

m = money overall

(m*1.08) +3000= you would do that twelve times