Question

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

Answer 1

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