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OpenStudy (anonymous):
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?
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OpenStudy (slaaibak):
\[PV = 5000 \times {{1.0245^5 -1} \over {0.0245}}\]
OpenStudy (slaaibak):
Sorry, meant FV, not PV
OpenStudy (anonymous):
Thanks!
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