Question

Please Help.....
Find the value of the annuity..
A1=$1000, I=0.05, N=25

Answer 1

\[a _{1}=1000, I=0.05, n=25\]

Answer 2

ok.. so the future value formula is

\[A = \frac{A_{1}[(1 + I)^n -1]}{I}\]

so in your question A1 = 1000 I = 0.05 and n = 25

substitute then and evaluate.

Answer 3

\[1000=\frac{ 1000\left[ \left( 1+0.05 \right)^{25}-1 \right] }{ 0.05 }\] How do i solve it? @campbell_st

Answer 4

just type it into a calcuator as its written.

Answer 5

how do i raise it to the 25th power? @campbell_st

Answer 6

your calculator should be able to handle it...

Answer 7

do you have a scientific of graphing calculator..?

Answer 8

no i do not @campbell_st

Answer 9

ok... I got $47727.10

here is an online calculator so you can check it

http://web2.0calc.com/