The Cooper Foundation contributes $25,000 per year into an annuity fund for building a new zoo. The fund earns 7.5% interest. Find the amount in the fund at the end of 10 years. (Round your final answer to two decimal places.)
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The Cooper Foundation contributes $25,000 per year into an
Formula to calculate FV in annuity:
F = P * ([1 + i]^N - 1 )/i
Wherein:
P = $25,000 deposited annualy
i = annual rate ie. 7.5%
t = no. of deposits = 10
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