t is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $822 each year into a savings account. You will make a total of 4 annual deposits. If the avings account interest rate is 15%, how much money will you have at the end of year 4? (In other words, what is the future value of this annuity?) inter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. hat means, for example, that if your answer is $127.5678, you must enter 127.57
t is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $822 each year into a savings account. You will make a total of 4 annual deposits. If the avings account interest rate is 15%, how much money will you have at the end of year 4? (In other words, what is the future value of this annuity?) inter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. hat means, for example, that if your answer is $127.5678, you must enter 127.57
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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Transcribed Image Text:It is now the beginning of the year. Assume that, starting at the end of the year, you will make
deposits of $822 each year into a savings account. You will make a total of 4 annual deposits. If the
savings account interest rate is 15%, how much money will you have at the end of year 4? (In other
words, what is the future value of this annuity?)
Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign.
That means, for example, that if your answer is $127.5678, you must enter 127.57
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