Answer: Rank me brainlist if this helps:)
False
$25,706.48
Step-by-step explanation:
The annual percentage rate (APR) is 4%, so the monthly rate is 4%/12 = ⅓%.
25 years = 300 months.
The monthly deposit (annuity) is $50.
The future value of the annuities is:
F = A [(1 + i)ⁿ − 1] / i
Given i = 1/300, A = 50, and n = 300:
F = 50 [(1 + 1/300)³⁰⁰ − 1] / (1/300)
F = 25,706.48
The statement is false. The amount after 25 years is less than $30,000.
