QUESTION S If you put $200 in a savings account at the beginning of each year...

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Answer 1

Answer #1

Rate =10%
Number of years =10
FV of using PMT annuity due =(1+r)*PMT*(1+r)^n-1)/r =(1+10%)^200*((1+10%)^10-1)/10%)=3506.2334

Value at 20th year =3506.2334*(1+10%)^10=9094.2663 or 9100 (option c is correct option)

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Answer 2

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