Answer:
interest earned= 292.878
the future value of an annuity= 892.878
Step-by-step explanation:
Given Data:
Interest rate= 5%
time,t = 8 years
Quarterly payment, P= 600
n= 4 as quarterly
At the end of 8 years, final investment A= ?
As per the interest formula
A= P(1+r/n)^nt
= 600(1+0.05/4)^32
= 892.878
Interest earned = A-P
= 892.878-600
= 292.878 !
Answer:
268
Step-by-step explanation:
You would take 5356 and divide it by 20
8.76e+9
that^
hopefully that helped?!!
