If $5,000 is put into a savings account at the end of each year and the account pays interest of 4% compounded annually, what amount will be in the account at the end of six years?

Name: If $5,000 is put into a savings account at the end of each year and the account pays interest of 4% compounded annually, what amount will be in the account at the end of six years?
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Question

Quizplus · Accepted Answer

$5,000 x 6.63298 =$33,165
(Annuity x FV annuity factor, n=6, i=4%) = FV

If $5,000 Is Put into a Savings Account at the End