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    Future Value of Annuity

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    Need help solving the following problem:

    Deposited $3,000 at the end of each of the next 20 years into an account paying 10.5% interset, how much money will I have in 20 years, and have if I make deposits for 40 years?

    © BrainMass Inc. brainmass.com June 3, 2020, 9:04 pm ad1c9bdddf
    https://brainmass.com/business/annuity/finance-calculating-the-future-value-of-annuity-164643

    Solution Preview

    We need to find the future value of annuity. The formula is
    FV = PMT X ...

    Solution Summary

    The solution explains how to calculate the future value of an annuity

    $2.19

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