Mathematics, 12.01.2020 03:31 Fangflora3
Lance rice has decided to invest $1,200 quarterly for 8 years in an ordinary annuity at 4 percent. the total cash value of the annuity at end of year 8 is:
$46,642.80
$44,992.92
$46,246.80
$44,292.92
none of these
Answers: 2
![F_{OA}=A\left [ \frac{\left (1+\frac{r}{n}\right)^{nt}-1}{\frac{r}{n}} \right ]](/tpl/images/0451/4747/9d82e.png)
![F_{OA}=1200\left [ \frac{\left (1+\frac{4}{400}\right)^{4\times 8}-1}{\frac{4}{400}} \right ]](/tpl/images/0451/4747/aad11.png)
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Lance rice has decided to invest $1,200 quarterly for 8 years in an ordinary annuity at 4 percent. t...
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