Jorgen Grace made deposits of $250 at the end of each year for 12 years. The rate received was 6% annually. What is the value of the investment after 12 years?

Question

27-11-2017
Mathematics

contestada

Jorgen Grace made deposits of $250 at the end of each year for 12 years. The rate received was 6% annually. What is the value of the investment after 12 years?

Respuesta :

Otras preguntas

Which best describes the mood of "Harlem [2]" before the poem's final line suggests violence and danger? A. frustrated and angry B. excited and optimistic

Lee needed to make drapes the length from the floor to the top of the window. The wall beneath the window had the height of 2 2/3 feet and the length of just

Haiku originated in the… 15th century. 16th century. 18th century. 17th century.

Which of the following is a SMART goal for Noah's food drive project? A. To collect and box food to feed 35 different families.

Question 3 lipase , Maltese & protease are members of a group of catalysts known as ?

I want to know the pronoun

Find the area of a triangular prism

What were the provisions of the magna carta??

Which one of the following choices best represents an example of splitting as a defense mechanism? A. Talking with a close friend about a problem you’re havi

W0lf93 W0lf93 · Answer 1 · 2017-12-09T20:21:32+01:00

Deposits made is $250, it is called Present value P = 250 Rate of interest r = 6% = 0.06 Time n = 12 years, 12 payments Investment value after n years FV = FV = P *(1+r) *(((1+r) ^ n) â€“ 1)/r FV = 250 * (1 + 0.06) * (((1 + 0.06)^12) - 1)/0.06 FV = 250 * 1.06 * (((1.06)^12) - 1)/0.06 => FV = 250 * 1.06 * (2.012 - 1)/0.06 FV = 250 * 1.06 * 1.012/0.06 => FV = 250 * 1.06 * 16.87 FV = 250 * 17.88 => FV = 4470.5 So the final value of investment after 12 years is $4470.5.