Connie made deposits of $2,000 at the beginning of each year for four years. the rate she earned is 5% annually. what is the value of connie's account in four years?

To get the value of Connie's deposits we use the future value of annuity:

FV=P[ ((1+r) ^n-1) / r]

where:

P=periodic deposits

r=rate

n=time

thus plugging our values in the formula we get:

FV=2000[ ((1+0.05) ^4-1) / 0.05]

FV=$8620.25

Answer: $8620.25