Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $2,200 is deposited quarterly for 20 years at 3% per year FV = $
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $2,200 is deposited quarterly for 20 years at 3% per year FV = $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![**Future Value of Annuity Calculation**
Find the amount accumulated \( FV \) in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
- $2,200 is deposited quarterly for 20 years at 3% per year.
**Formula:**
\[ FV = \]
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Transcribed Image Text:**Future Value of Annuity Calculation**
Find the amount accumulated \( FV \) in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
- $2,200 is deposited quarterly for 20 years at 3% per year.
**Formula:**
\[ FV = \]
**Options for Assistance:**
- Need Help?
- [Read It]
- [Watch It]
**Action:**
- [Submit Answer]
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