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Determine the final amount of an annuity where you invest $10,000 evenly over the course of 20 years annually at a 5% annual interest rate
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Determine the final amount of an annuity where you invest $10,000 evenly over the course of 20 years annually at a 5% annual interest rate

User Mohamed Naguib
by
7.7k points

1 Answer

5 votes

Answer:

17359.63

Explanation:

(0+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

(ans+500)x1.05

=17359.63

User Austin York
by
7.9k points
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