Question

Question Help Suppose that you earned a bachelor's degree and a. After 5 years, you will have approximately $. now you're teaching high school. The school district (Do not round until the final answer. Then round to offers teachers the opportunity to take a year off to the nearest dollar as needed.) earn a master's degree. To achieve this goal, you deposit $4000 at the end of each year in an annuity b. The interest is approximately $ that pays 6.5% compounded annually. (Use the answer from part a to find this answer.) How much will you have saved at the end of five years? b. Find the interest. a.

Answer 1

future value of Annuity FN = P (1+r) - 1 ng Given : $ 4000 n= syear 6.5% -0.065 Fv= 4000 s (140.0651 - 1 1 0.065 4000 [11.095)9-1 4000 40.37oo8 67 ana 0.06S 22794.56 FV $22775 After 5 year Amount - $ 22775 interest Amount in syear - Amount deposits in s year 22795 5x4000 22775 20000 interest = $2775

If you have any confusion regarding the answer please ask and rate ?

Thank you