2. find the amount of the annuity. amount of each deposit: $295 deposited: quarterly rate per year: 10% number of years: 6 type of annuity: due $9,671.28 $9,542.97 $10,076.54 $9,781.54

To solve this we are going to use the future value of annuity due formula: 
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 payments per year  is the number of years

We know for our problem that  and . To convert the interest rate to decimal for, we are going to divide the rate by 100%:


Since the payment is made quarterly, it is made 4 times per year; therefore, .
Since the type of the annuity is due, payments are made at the beginning of each period, and we know that we have 4 periods, so .
Lets replace those values in our formula:





We can conclude that the amount of the annuity after 10 years is $9,781.54