Mathematics, 16.12.2019 17:31 ineedtopeebeforethec
To offer scholarship funds to children of employees, a company invests 25000 at the end of every three months in an annuity that pays 11.5% compounded quarterly. use the formula for the value of an annuity
a. how much money will be in the fund after 15 years
b. find the interest
a= p[1+r/n)^nt -1] / r/n
Answers: 1
![\bf \qquad \qquad \textit{Future Value of an ordinary annuity}\\ \left. \qquad \qquad \right.(\textit{payments at the end of the period}) \\\\ A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]](/tpl/images/0420/8079/2b5a9.png)
![\bf \qquad \begin{cases} A= \begin{array}{llll} \textit{accumulated amount}\\ \end{array}\begin{array}{llll}\end{array}\\ pymnt=\textit{periodic payments}\to &25000\\ r=rate\to 11.5\%\to \frac{11.5}{100}\to &0.115\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, four times} \end{array}\to &4\\ t=years\to &15 \end{cases} \\\\\\ A=25000\left[ \cfrac{\left( 1+\frac{0.115}{4} \right)^{4\cdot 15}-1}{\frac{0.115}{4}} \right]](/tpl/images/0420/8079/4f754.png)
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To offer scholarship funds to children of employees, a company invests 25000 at the end of every thr...
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