Andrew invests $9,000 at the end of each year for 20 years. the rate of interest andrew gets is 8% annually. using the tables found in the textbook, determine the final value of andrew's investment at the end of the twentieth year on this ordinary annuity. a. $88,362.90 b. $411,858.00 c. $88,632.90 d. $411,588.00

Given that Andrew invests $9,000 at the end of each year for 20 years. The rate of interest Andrew gets is 8% annually.

Now we need to determine the final value of Andrew's investment at the end of the twentieth year on this ordinary annuity.

So we can use annuity formula which is :

Where R=annual payment = 9000

i= rate of interest = 8% = 0.08

t= number of years = 20

S= future value

Now plug those values into above formula.

S=411857.678683

Hence final answer is approx $411858.

there are no figures how am i supposed to answer this question

step-by-step explanation:

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.