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Yanni crable deposits $122 in an ordinary annuity at the end of every quarter. The annuity earns 6% interest compounded quarterly. After 4 quarters, the value of $1 with this in…

Yanni crable deposits $122 in an ordinary annuity at the end of every quarter. The annuity earns 6% interest compounded quarterly. After 4 quarters, the value of $1 with this in…
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21 votes
yanni crable deposits $122 in an ordinary annuity at the end of every quarter. The annuity earns 6% interest compounded quarterly. After 4 quarters, the value of $1 with this interest rate is $4.0909. What is the future value of the annuity after 1 year?

asked
User Maksym Petrenko
by
8.0k points

1 Answer

9 votes

Explanation:

future value of annuity after 1 year is:

$122× $4.0909=$499.089

=$499.09

answered
User Abimael
by
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