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Pedro Gonzalez will invest $10,000 at the beginning of each year for the next 12 years....

Pedro Gonzalez will invest $10,000 at the beginning of each year for the next 12 years. The interest rate is 11 percent. What is the future value? Use Appendix C to calculate the answer.

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Answer #1

We know that,

Future Value = Amount*(1+interest rate)^(12-0) + Amount*(1+interest rate)^(12-1) + ................. Amount*(1+interest rate)^(12-11)

Future Value = $252116.38 Answer

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