every month Tripp deposit is $377 into an interest-bearing account to save for a down payment on a house. The interest rate on the account is 4.83% compounding twice a year. What is the present value of this investment if Tripp purchases the house in 20 years? (show work)

A = $9832.53

B = $58,995.15

C = $57,604.02

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21 August, 20:13

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Ciara Hutchinson · Answer 1

See the present value of annuity due through Google

Pvad=377 * ((1 - (1+0.0483:2) ^ (-2*20)) : (0.0483:2)) * (1+0.0483:2) = 9,832.52