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Find the amount of the annuity. Round to the nearest cent. Amount of Each Deposit: $2,500 Deposited: Semiannually Rate Per Year: 10% Number of Years: 8

Find the amount of the annuity. Round to the nearest cent. Amount of Each Deposit: $2,500 Deposited: Semiannually Rate Per Year: 10% Number of Years: 8
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Find the amount of the annuity. Round to the nearest cent.

Amount of Each Deposit: $2,500

Deposited: Semiannually

Rate Per Year: 10%

Number of Years: 8

asked
User Seton
by
7.6k points

1 Answer

1 vote
FVAO=2500[((1+0.1/2)^(2*8)-1)/(0.1/2)]
FVAO=59143.73
answered
User GeertVc
by
8.6k points
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