Jorgen made deposits of $250 at the end of each year for 12 years. The rate received was 6% annually. What's the value of the in
vestment after 12 years?
2 answers:
FV = P(

)
Where, FV = Value after 12 years, P= Yearly deposits = $250, r= Rate = 6% = 0.06, n=Number of years = 12 years.
Then,
FV= 250 (

) = $4,217.50
Answer:
$430
Step-by-step explanation:
We can use the simple interest rate formula to calculate the investment value after 12 years. The formula is:

Where A is the value of the amount after investment, P is the intitial investment, r is the rate and t is the time invested.
Therefore $250 at a rate of 6% for 12 years:

The value of the investment after 12 years is $430
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