Find the amount of an annuity that consists of $30$ annual payments of $\$ 500$ each into an account that pays $7 \%$ interest per year.

Name: Find the amount of an annuity that consists of $30$ annual payments of $\$ 500$ each into an account that pays $7 \%$ interest per year.
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Question

Find the amount of an annuity that consists of $30$  annual payments of $\$ 500$  each into an account that pays $7 \%$  interest per year.

Quizplus · Accepted Answer

The Answer is

A _ { J } = 500 \frac { ( 1.07 ) ^ { 20 } - 1 } { 0.07 } \approx \$ 47230.39

Find the Amount of an Annuity That Consists Of 303030 Annual Payments Of

Find the Amount of an Annuity That Consists Of $30$ Annual Payments Of