You deposit $4000 each year into an account earning 3% interest
compounded annually. How much will you have in the account in 25
|Annuity is the equal payent at regular interval.So this is the case of future value of annuity.|
|Future Value of annuity||=||Annuity x Future Value of annuity of 1|
|Future Value of annuity of 1||=||(((1+i)^n)-1)/i||Where,|
|It will have in 25 years||$ 1,45,837.06|
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