Asked by Petra
The owner of Campus Cafe plans to open a second location on a satellite campus in 5yrs. She buys an annuity that pays 10.5% interest compounded annually
A. If the payment is $4000 a year, find the future value of the annuity in 5yrs.
B. How much more interest would be earned if the owner could invest the full amount paid into the annuity in a regular compounded interest account with the same term for 4 years
A. If the payment is $4000 a year, find the future value of the annuity in 5yrs.
B. How much more interest would be earned if the owner could invest the full amount paid into the annuity in a regular compounded interest account with the same term for 4 years
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