Wendy Brooks prepares her own income tax return each year. A tax preparer would charge her...
Wendy Brooks prepares her own income tax return each year. A tax preparer would charge her $105 for this service. Over a period of 8 years, how much does Wendy gain from preparing her own tax return? Assume she can earn 3 percent on her savings
what is the future value?
Homework Answers
Future value = Annuity * Future value annuity for 8 years, 3 percent
Annuity = 105
Future value annuity for 8 years, 3 percent = 8.89
Future value = 105*8.89 = 933.45
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