M-4=2m simplify please
2 answers:
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Answer:
Option B.
Step-by-step explanation:
The future value formula, for an annuity, is:
An annuity means that a number of payments happen during the period(an year, for example).
P is the value of the deposit, r is the interest rate, as a decimal, and n is the number of deposits.
In this question:
Deposits of $765.13, so
Each month, for 3 years. An year has twelve months, so
2% Interest a year. An year has 12 months, so
Find the final amount of the account.
The final amount of the account will be $28,363.46, which is option B.