contestada

You want to invest $6,000 annually beginning now in order to accumulate $33,300 for a down payment on a house in five years. To find the annual interest rate you would need to receive to accomplish this goal, you would search the fifth row in the:

Respuesta :

abiolataiwo2015

To find the annual interest rate you would need to receive to accomplish this goal, you would search the fifth row in the: Future value of a  annuity due of $1 table for the factor closed to 5.55.

Future value of a annuity due

Since we have $6,000 as the amount invested annually and  we need to accumulate $33,300.

Therefore the annuity factor required is:

Annuity factor=$33,300/$6,000

Annuity factor=5.55 and its future value of annuity

Inconclusion Future value of a  annuity due of $1 table for the factor closed to 5.55.

Learn more about  Future value of a annuity due here:https://brainly.com/question/5303391

Otras preguntas