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sashaice [31]
2 years ago
12

Winston typically spends about $200 per year playing the lottery. If he took that same amount of money, for 30 years, and invest

ed it in an index fund earning an average of 6%, approximately how much money would Winston have?
Computers and Technology
1 answer:
Tatiana [17]2 years ago
3 0

Answer:

If Winston invested $200 every year at 6% for 30 years, the $200 would be an annuity and the future value of an Annuity is calculated

as:= Annuity x ( (1 + rate) ^ number of years - 1) / rate = 200 x ( ( 1 + 6%) ³⁰ - 1) / 6%= $15,811.64 Winston


 would have $15,811.64 

Explanation:

math is proof

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Answer:

See explaination

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Please go to attachment for sample program run

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