jocekinn jocekinn

11-04-2017
Mathematics

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Find the amount of the annuity due. Round to the nearest cent.

Amount of Each Deposit: $515

Deposited: Monthly

Rate Per Year: 18%

Number of Years: 2

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Aliwohaish12 Aliwohaish12

11-04-2017

FVAD=515[((1+0.18/12)^(12*2)-1)/(0.18/12)]*(1+0.18/12)
FVAD=14967.46

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