ou plan to deposit $5,900 at the end of each of the next 20 years into an account paying 10.8 percent interest. a. How much will you have in your account if you make deposits for 20 years

$326,622.73

Explanation:

Calculation to determine How much will you have in your account if you make deposits for 20 years

Using this formula

Future value = Annuity × {( 1 + interest rate) ^ time period - 1} ÷ interest rate

Future value = $5,900 × {( 1 + 0.097 ^ 20 years - 1} ÷ 0.097

Future value= $5,900 × 55.3597842916

Future value= $326,622.73

Therefore the amount you will have in your account if you make deposits for 20 years is $326,622.73

if i need to borrow money for anything, it would be for something like a house or an apartment but, that depend on the situation.

is this good enough?

the answer is a.

by: nicholas dooley