Question

find the value of the annuity

a1 =$3000,I=0.05,N=10
what is the future value of the annuity?

Answer 1

Assuming simple interest, your interest accrued is\[I=P_0rt\]Where P is your initial investment, r is the interest rate, and t is the amount of time in years.
\[I=(3000)(0.05)(10)=1500\]This means that you get $1500 in interest after 10 years. You add that to your initial investment of 3000 to get $4500.

Answer 2

thank u...