Ask Question
22 March, 05:02

Ed Sloan invests $1,600 at the beginning of each year for eight years into an account that pays 10% compounded semiannually. The value of the annuity due is (use the tables in the handbook) :

+2
Answers (1)
  1. 22 March, 05:10
    0
    FV=PV (r+1) ⁿ

    FV=Future value, or your amount of money you're going to have after 8 years.

    PV=Present value, or the amount of money you have just invested.

    APR=10

    FV=1,600 (10+1) ¹⁶

    FV=1,600 (11) ¹⁶

    FV=1,600 (176)

    FV=$281,600
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Ed Sloan invests $1,600 at the beginning of each year for eight years into an account that pays 10% compounded semiannually. The value of ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers