pepe844 pepe844

12-02-2020
Business

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Daphne invests $5,800 in a savings account at the beginning of each of the next fifteen years. If his opportunity cost rate is 6 percent compounded annually, how much will her investment be worth after the last annuity payment is made

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kaympoey08 kaympoey08

13-02-2020

Answer:

The answer is $135,000

Explanation:

FV = P * ([1 + I]^N - 1 )/I

FV= 5800* ([1 + 0.06]^15 - 1 )/0.06 = $135,000.35= $135,000

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