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    Future Value of an annuity

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    Your uncle has agreed to deposit $3,000 in your brokerage account at the beginning of each of the next five year (t=0,t=1,t=2,t=3 and t=4) You estimate that you can earn 9 percent a year on your investments. How much will you have in your account four years from now (at t=4) Assume that no money is withdrawn from the account until t=4

    A 13,719.39
    b. 17,954.13
    c 19,570.00
    d 21,430.45
    e 22,436.12

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    Solution Preview

    Your uncle has agreed to deposit 3,000 in your brokerage account at the beginning of each of the next five year (t=0,t=1,t=2,t=3 and t=4)  You estimate that you can earn 9 percent a year on your investments.  How much will ...

    Solution Summary

    The solution calculates Future Value of an annuity.

    $2.19

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