Question
Determine the amount of the ordinary annuities at the end of the given periods.
$200 deposited monthly at 1% per month for 20 months.
$200 deposited monthly at 1% per month for 20 months.
Answers
Reiny
What is
200( 1.01^20 - 1)/.01 ?
(I just plugged into the formula)
200( 1.01^20 - 1)/.01 ?
(I just plugged into the formula)
Matt
4403.80 is correct