If the business manager deposits $200 in a savings account at the end of each year for twenty years what will be the value of her investment:
a) At a compounded rate of 10%?
b) At a compounded rate of 20%?
c) What would the outcome be if the deposits were made at the beginning of each year?© BrainMass Inc. brainmass.com October 2, 2020, 4:13 am ad1c9bdddf
The attached file contains an exercise which illustrates how to calculate a compound interest rate using the future value of an ordinary annuity.