ABC small company deposits 8500$ in a saving account at the end of each year for 10 -1 years. The bank pays 7% interest, compounded annually. At the end of 5years, immediately after the fifth deposit $ ?How much does the man haven his account سؤال 6 غير مجاب عليه بعد علم هذا السؤال
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An ordinary annuity is a series of equal payments made at the end of each period. The formula for the future value of an ordinary annuity (FV) is: $$FV = P \times \frac{((1 + r)^n - 1)}{r}$$ Where: P = the amount of each payment (annuity) r = the interest rate per Show more…
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