Final answer:
The future value of an annual deposit of $800 earning 6 percent for 15 years is approximately $16,747.21.
Step-by-step explanation:
To calculate the future value of an annual deposit, you can use the formula:
Future Value = PMT x [(1 + r)ⁿ - 1] / r
Where PMT is the annual deposit amount, r is the interest rate per period, and n is the number of periods.
In this case, the annual deposit is $800, the interest rate is 6% (or 0.06), and the number of years is 15. Plugging these values into the formula:
Future Value = $800 x [(1 + 0.06)¹⁵ - 1] / 0.06
Using a calculator, the future value would be approximately $16,747.21.