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You will deposit 600 per year into an account that earns 4.0% per year. How much will you have in the account 3 years from now? Round your answer to 2 decimals, for example 100.21

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Answer #1
Value of investment 3 years from now = Annuity*Future Value of annuity of 1
= $           600 * 3.1216
= $ 1,872.96
Working:
Future value of annuity of 1 = (((1+i)^n)-1)/i Where,
= (((1+0.04)^3)-1)/0.04 i 4%
= 3.1216 n 3
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