Assume you deposit $5,600 at the end of each year into an account paying 11 percent interest. How much money will you have in the account in 17 years

FV= $249,204.72

Explanation:

Giving the following information:

Annual deposit= $5,600

Interest rate= 11%

Number of periods= 17 years

To calculate the future value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,600*[(1.11^17) - 1]} / 0.11

FV= $249,204.72

one of the disadvantages of getting a government sponsored mortgage is they put a limit on the purchase price of the house. because the government is in charge of the mortage loan and terms, they are able to control how much money they are allowing someone to take out for the loan. not only are they incontrol, it's a lengthy process for a government sponsored mortgage.

2,283,000

explanation:

i just had to add it