Answer:
Luana will save $2,493.522
Explanation:
Given:
Luana will deposit $570 every year for 4 years. This is an annuity as same amount is deposited every year.
Rate is 6% or 0.06
We have to compute Luana's savings at the end of 4th year.
Refer future value of annuity factor table at 6%, 4th year. Annuity factor is 4.3746.
Savings = Yearly deposit × Annuity factor
= 570 × 4.3746
= $2,493.522
Therefore, Luana will save $2,493.522 by the end of 4 years.
Answer:
$4760
Explanation:
700 units at 6.80 value/unit
700 x 6.80
= 4760
