When considering a term(s) inside parentheses, and there is an exponent
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Answer:
$1,448.66
Step-by-step explanation:
The future value of an annuity with yearly deposits 'P' at an interest rate of 'r' invested for 'n' years is determined by:
For P = $100, r = 0.08 and n = 10 years:
The amount at the end of the ten years is $1,448.66