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Moving to another question will save this response. Question 10 Question 10 3 points Suppose $1,250 is deposited into an account each quarter. The account grows at an annual rate of 10.0%, compounded quarterly. After 45 years, how much is the account worth? Enter your answer as a numerical value (with no labels or units) and round to the nearest dollar.

Name: moving to another question will save this response question 10 question 10 3 points suppose 1250 is deposited into an account each quarter the account grows at an annual rate of 100 compound 90384
Uploaded: 2023-06-06T19:31:45-08:00
Duration: 1 min 20 s
Channel: Manisha Sarker
Description: moving to another question will save this response question 10 question 10 3 points suppose 1250 is deposited into an account each quarter the account grows at an annual rate of 100 compound 90384

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Question 10
Question 10
3 points
Suppose $1,250 is deposited into an account each quarter. The account grows at an annual rate of 10.0%, compounded quarterly.
After 45 years, how much is the account worth? Enter your answer as a numerical value (with no labels or units) and round to the nearest dollar.

moving to another question will save this response question 10 question 10 3 points suppose 1250 is deposited into an account each quarter the account grows at an annual rate of 100 compound 90384

Added by Ver-Nica M.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Manisha Sarker

06/06/2023

Step 1

We are given the following information: - Payment per period, P = $1,250 - Annual interest rate, r = 10.0% = 0.10 - Compounding frequency, n = 4 (quarterly) - Time in years, t = 45 years We need to find the future value of the annuity, FV. First, calculate the Show more…

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Moving to another question will save this response. Question 10 Question 10 3 points Suppose $1,250 is deposited into an account each quarter. The account grows at an annual rate of 10.0%, compounded quarterly. After 45 years, how much is the account worth? Enter your answer as a numerical value (with no labels or units) and round to the nearest dollar.