Answer:
Savings at the end of seven years would be $11,374.32
Explanation:
Given:
Money deposited in savings account at the end of the year (pmt) = $1060
Annual interest earned (rate) = 14%
Time period (nper) = 7 years
It is an annuity as money is deposited every year. In order to compute the amount available at the end of 7th year, future value annuity needs to be computed.
Spreadsheet function FV can be used to compute the same.
=FV(rate,nper,PMT,PV)
Savings at the end of 7th year is $11,374.32.
Note: PV is 0.
Front end load, hope this helped :)
This is an example of a diet.
False. Average fixed costs are totally different from average variable costs. They can only be equal if by chance the fixed costs are equal to variable costs for a specific level of production