cynthiauzoma367
30.03.2021 •
Business
Dalia Ramirez Anchondo deposits $ 200 into her savings annuity every paycheck. She gets paid weekly. The credit union will pay Dalia 4% compounded quarterly. What is the future value of Dalia in 4 years. Help me
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Ответ:
$41,418.96
Explanation:
There are four quarters in a year and the interest rate is a yearly rate that should be converted to a quarterly rate:
= 4% / 4
= 1%
Delia gets paid $200 a week. There are 12 weeks in a quarter so the quarterly contribution is:
= 200 * 12
= $2,400
The number of quarters she invests is:
= 4 * 4years
= 16 quarters
As this payment is constant, it is an annuity.
Value after 4 years will be:
= Annuity * Future value interest factor of annuity, 1%, 16 periods
= 2,400 * 17.2579
= $41,418.96
Ответ:
D is the correct answer.
Explanation: