How much interest would be earned on $24,664.64 if the owner invest the full amount into an annuity in a regular compounded -interest account with the term of 4 years .
2 answers
interest=24664.65(1+i)^4 -24664.65
24664.65(1+.105)^4-24664.65=12107.93
note the interest rate is 10.5% did I do this correctly
note the interest rate is 10.5% did I do this correctly