NEED HELP ASAP Sabrina deposits $300 in an account today and at the end of each...
NEED HELP ASAP
Sabrina deposits $300 in an account today and at the end of each year for 2 more years. If the account pays 4 % interest annually, how much money will be in Sabrina's account 3 years from today? The future value of the annuity due is $ (Round to the nearest cent.)
Homework Answers
We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period
A=300*(1.04)^3+300*(1.04)^2+300*(1.04)
which is equal to
=$973.94(Approx).
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NEED HELP ASAP
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