Question

What is the future value of $400 invested each year for 15 years at a rate...

What is the future value of $400 invested each year for 15 years at a rate of 6%?

$959

$6,000

$9,310

$12,310

$14,959

0 0
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Answer #1

Ans $ 9310

P = Periodic payments
r = rate of interest
n = no of years
Future Value of Annuity = P ( (1 + r)n - 1 ) / r
400* ((1 + 6%)^15 - 1) / (6%)
9310
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