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
