Sara Beth made annual deposits of 6000 in an account that pa

Sara Beth made annual deposits of $6,000 in an account that paid 5.1% compounded annually How much money should be in the account immediately after her 1Oth deposit?

Solution

Solution:-

Total Future value after 10 deposits (i.e. 10 years) = Deposit amount * FVIFA (10, 5.1%)

= 6000 * 12.6368 = 75820.8