Suppose you invest $75 a month in an annuity that earns 3% apr compounded monthly. how much money will you have in this account after 3 years?

a. $2650.00
b. $2821.54
c. $4750.25
d. $4745.70

Option B. $2821.54

Step-by-step explanation:

we know that

The formula for the future value of an ordinary annuity is equal to:

where

is the future value

is the periodic payment

is the interest rate in decimal form

is the number of times the interest is compounded per year

is the number of years

In this problem we have

Substitute in the formula above

51-50

step-by-step explanation:

step-by-step explanation:

if you want to solve percent error follow these steps.

1. subtract the accepted value from the experimental value.

2. take the absolute value of step 1.

3. divide that answer by the accepted value.

4. multiply that answer by 100 and add the % symbol to express the answer as a percentage.

if you want to solve percent of change just do this.

1. work out the difference (increase) between the two numbers you are comparing.

2. divide the increase by the original number and multiply the answer by 100. if your answer is a negative number then this is a percentage decrease.

hope this : )