Use the simple interest formula method to calculate the future value of an annuity with annual annuity payments of $1200 at 4% interest for 20 years.

asked Jul 10, 2023 199k views

19 votes

6.3k points

Please log in or register to add a comment.

13 votes

Answer:

Explanation:

A = $2,629.35
A = P + I where
P (principal) = $1,200.00
I (interest) = $1,429.35

7.8k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.6m questions

11.2m answers