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nlexa [21]
3 years ago
8

Help asap. need the answer ASAP

Mathematics
1 answer:
eimsori [14]3 years ago
6 0
B

Explanation
I don’t have one
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Find the interest earned and the future value of an annuity with quarterly payments of $600 for 8 years into an account that pay
iVinArrow [24]

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 !

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125

Step-by-step explanation:

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