To determine how much you would need to save each year to reach a specific goal, you would use
A) present value of $1.
B) future value of $1.
C) present value of an annuity.
D) future value of an annuity.

Question

Quizplus · Accepted Answer

The future value of an annuity formula is used to calculate how much you would need to save each year to reach a specific financial goal, taking into account regular, equal payments and interest compounding.

To Determine How Much You Would Need to Save Each