Question

Jessica deposits $5,000 at the end of each year in an account earning 2.45% interest, compounded annually. What is the future value of this annuity after 5 years of investing?

Answer 1

Oops ^

Answer 2

\( \color{Black}{\Rightarrow 5000(1 + 0.0245)^5 }\)

This isn't simple interest :)

Answer 3

Whats the answer?

Answer 4

anyway \[5,000(1+0.0245)^{5}\]

Answer 5

\[5,000(1.0245)^{5}\]

Answer 6

ooooo ok!!

Answer 7

Thanks guys!

Answer 8

\[5,000*1.04960025 \]

Answer 9

the options it gives me for answers are -
13,127.69
26,255.38
52,510.76
25,256.20

Answer 10

oh ok