Jenny invests $1000 per year for 20 years in an annuity. The interest rate is 6% p.a. and interest is compounded annually. What is the future value of the annuity?

Jenny invests $1000 per year for 20 years in an annuity. The interest rate is 6% p.a. and interest is compounded annually. What is the future value of the annuity?

There are four possible answers to this problem that were given to me: A -0.09% B -9% C .91% D 91% Thank you so much in advance. If you could please explain how you...

Whenever I type this problem: 5000(1+1.15)^68, I get this answer: 2.0173687011×10^26. According to my online homework (MyMathLab) that is incorrect. It should look like this: 35805.0308354 when...

This uses compound interest

An Investment is worth R90 749.30 after ten years at 9% p.a, compounded daily (lets assume 365 days in every year). What is the present value of the investment?

Find the compound interest on $1000 at (i) 6% compounded monthly for 5 years and (ii) 15% compounded monthly for 30 years.

Hector and Yolanda want to establish a fund for their grandson's college education. What lump sum must they deposit at a 6.7% annual interest rate, compounded monthly, in order to have $30,000 in...

What annual simple interest rate corresponds to an investment of $100 at 8% p.a. compounded monthly for 3 years? The answer according to the textbook is 9.01% p.a. and i don't understand how you get...

Find the amount of time it takes to reach 2147.11

Kevin and Sandra put $72,218.00 into a new savings account that earns interest compounded continuously. After 11 months, they had $81,880.00 in the account. What was the interest rate?

I dont understand this I need help

Trying to find compound interest Determine the interest that would be charged on a two-week $1000 payday loan if the interest rate is 520%, and the interest is compounded weekly. Explain how...

please solve with step by step working out.

Suppose you inherited a house that was purchases in 1950 for $20,000. It is now 2015 and the value of the house has increased by approximately 5% each year (compound annually). What is the house worth...

compound interest

How long will it take for $5000 invested at 6%/a compounded monthly to grow to $6546.42? Please help I have an exam coming up

How much should you invest each month in order to have $600,000 if your rate of return is 4.8% compounded monthly and you want to achieve your goal in 40 years? How much interest will...

How much should you invest each month in order to have $600,000 if your rate of return is 4.8% compounded monthly and you want to achieve your goal in 40 years? How much interest will you...

They want to put away money for college education now. How much money should they deposit in an account paying 10.2% so they will have $100,000 in 18 years .

Not to sure how to approach this compound interest word problem? How much money should be put in a savings account now that earns 3.0% a year compounded weekly if you want...