Fiona deposits $4,000 at the end of each year in an account earning 2.15% interest, compounded annually. What is the future value of this annuity after 5 years of investing

The formula of the future value of annuity ordinary

Fv=pmt [ (1+r) ^ (n) - 1) : r]

Fv future value

Pmt payment per year 4000

R interest rate 0.0215

N time 5 years

Fv=4,000 * (((1+0.0215) ^ (5) - 1) : (0.0215))

fv=20,878.69