Andrew invests $9,000 at the end of each year for 20 years. The rate of interest Andrew gets is 8% annually. Using the tables found in the textbook, determine the final value of Andrew's investment at the end of the twentieth year on this ordinary annuity.

Question

Adrianna Pacheco

Mathematics

28 March, 00:38

Andrew invests $9,000 at the end of each year for 20 years. The rate of interest Andrew gets is 8% annually. Using the tables found in the textbook, determine the final value of Andrew's investment at the end of the twentieth year on this ordinary annuity.

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Answers (2)

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Dennis Dougherty · Answer 1

At the end of the 20 years, Andrew receives $41,948.61

Georgia Castaneda · Answer 2

Andrew invests $9,000 at the end of each year for 20 years. The rate of interest Andrew gets is 8% annually. Using the tables found in the textbook, determine the final value of Andrew's investment at the end of the twentieth year on this ordinary annuity.

R / $411,858