Mathematics, 05.10.2019 08:00 yasherebernalgoxa5kc
$100 is deposited at the end of every week for five years in an account that pays 14%/an, compounded weekly. (8) what type of annuity is this? find the future value of the annuity using the formula. find the future value of the annuity using a spreadsheet. in your answer include the formulas that you typed. find the future value of the annuity using the tvm solver on a graphing calculator or on a website. in your answer, include what values you typed for each parameter.
Answers: 1
![\bf \qquad \qquad \textit{Future Value of an ordinary annuity} \\\\ A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]](/tpl/images/0288/7623/907a5.png)
![\bf \qquad \begin{cases} A= \begin{array}{llll} \textit{accumulated amount} \end{array} \\ pymnt=\textit{periodic payments}\to &100\\ r=rate\to 14\%\to \frac{14}{100}\to &0.14\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{weekly, thus} \end{array}\to &52\\ t=years\to &5 \end{cases} \\\\\\ A=100\left[ \cfrac{\left( 1+\frac{0.14}{52} \right)^{52\cdot 5}-1}{\frac{0.14}{52}} \right]](/tpl/images/0288/7623/46f59.png)
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