Question

find the future value of the annuity.
a1=$30,000 , I=0.16, n=5

Answer 1

hmm, you got a table or formula we can use?

Answer 2

in general, I beleive:\[FV=PV(1+I)^n\]
but there are a few different ways that ive seen these things go down

Answer 3

I don't have a table or formula

Answer 4

then with any luck, my failing memory might be right

Answer 5

so how do I do the problem ??? help please

Answer 6

using the formula? just plug in the values given

FV is future value
PV is present value (im assuming a1 is it)
I is the I given and n is the n that is given

Answer 7

so I have $240 in interest. is that correct ?