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Find the amount of the annuity due. Round to the nearest cent. Amount of Each Deposit: $515 Deposited: Monthly Rate Per Year: 18% Number of Years: 2

Find the amount of the annuity due. Round to the nearest cent. Amount of Each Deposit: $515 Deposited: Monthly Rate Per Year: 18% Number of Years: 2
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2 votes
Find the amount of the annuity due. Round to the nearest cent.

Amount of Each Deposit: $515

Deposited: Monthly

Rate Per Year: 18%

Number of Years: 2

asked
User D Stanley
by
7.6k points

1 Answer

4 votes
FVAD=515[((1+0.18/12)^(12*2)-1)/(0.18/12)]*(1+0.18/12)
FVAD=14967.46
answered
User Lbear
by
8.5k points
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