Robert and Linda Williams plan to invest $11,000 a year in an educational IRA for their granddaughter, Sloane Martin. They will make these deposits on January 2nd of each year. Robert and Linda feel they can safely earn 6%. How much will be in this account on December 31 of the 18th year?

FV= $339,962.18

Explanation:

Giving the following information:

Annual investment (A)= $11,000

Number of periods (n)= 18 years

Interest rate (i)= 6%

To calculate the future value (FV) after 18 years, we need to use the following formula:

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

A= annual deposit

FV= {11,000*[(1.06^18) - 1]} / 0.06

FV= $339,962.18

engine assembler, survey reasearcher, auditor

the answer is true.  i do believe this is the answer because of the amount of wrecks people get into each year.  if you double this with avoiding those so said wrecks, that would make you a "skilled" driver.