Megan has a large and growing collection of animated movies. she wants to replace her old television with a new lcd model, so she has started saving for it. at the end of each year, she deposits $800 in her bank account, which pays her 4% interest annually. megan wants to keep saving for 6 years and then buy the newest lcd model that is available. megan’s savings are an example of an annuity. how much money will megan have to buy a new lcd tv at the end of 6 years, rounded to the nearest whole dollar? $7,163 $4,510 $5,306 $5,518
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Ответ:
The correct answer is C: $5,306
Explanation:
Giving the following information:
At the end of each year, she deposits $800 in her bank account, which pays her 4% interest annually.
Megan wants to keep saving for 6 years and then buy the newest LCD model that is available.
We need to use the following formula of a final value:
FV= {A*[(1+i)^n-1]}/i
FV= 800*[(1.04^6)-1]/0.04= $5,306
Ответ:
Hi!
Explanation:
Idk if im being too much but can I have brainliest?
but yeah im here :)