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Svet_ta [14]
3 years ago
5

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?
Mathematics
2 answers:
svet-max [94.6K]3 years ago
8 0
FV = P(\frac{ (1+r)^{n}-1 }{r})

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

Then,
FV= 250 (\frac{( 1+0.06)^{12} -1 }{0.06}) = $4,217.50
levacccp [35]3 years ago
7 0

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:

A=P*(1+r*t)

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:

A=250*(1+0.06*12)=430

The value of the investment after 12 years is $430

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