Ted Williams made deposits of 500 at the end of each year fo

Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. The value of Ted\'s annuity at the end of eight years is (use the tables in the handbook):

Solution

Yearly deposit at the end of each year = 500 dollars

NO of years = 8

ROI = 8% compounded annually

Maturity amount = 5318.31 $, out of which principal 4000 and interest 1318.31

Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. The value of Ted\'s annuity at the end of eight

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