Gayle starts to save at age 20 for an extended vacation around the world that she will take on her 45th birthday. She will contribute $1000 each year to the account, which earns 1.65% annual interest, compounded quarterly. What is the future value of this investment when she takes her trip? Can someone tell me which formua to use?

Question

unklerhaukus · Answer

i think it is just the simple interest formula with an extra term

anonymous · Answer

I will try it and see if I get a correct answer.

anonymous · Answer

Not it. Simple interest uses a principle and doesn't account for payments.

anonymous · Answer

did any one got d ans ..?