What is the future value of $2,000 invested at the end of each year for 5...

Question

Question

What is the future value of $2,000 invested at the end of each year for 5 years? Use 10%.

Answer 1

Answer #1

Future value of annuity=Annuity[(1+rate)^time period-1]/rate

=2000[(1.1)^5-1]/0.1

=2000*6.1051

=$12210.2

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Answer 2

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