SHOW all the work please thank you so much
1 answer:
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Answer:
There will be 9897.47€ in the account.
La cantidad será de 9897.47€.
Step-by-step explanation:
Future value with annuity:
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:
1000 € each year, so
Interest rate of 6%, so
One application per year for 8 years, so
Total amount:
There will be 9897.47€ in the account.
La cantidad será de 9897.47€.