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

Question

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

anonymous · Answer

$$a _{1}=1000, I=0.05, n=25$$

campbell_st · Answer

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.

anonymous · Answer

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

campbell_st · Answer

just type it into a calcuator as its written.

anonymous · Answer

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

campbell_st · Answer

your calculator should be able to handle it...

campbell_st · Answer

do you have a scientific of graphing calculator..?

anonymous · Answer

no i do not @campbell_st

campbell_st · Answer

ok... I got $47727.10 here is an online calculator so you can check it http://web2.0calc.com/