Suppose that you earned a bachelor's degree and now you're
teaching high school. The school district offers teachers the
opportunity to take a year off to earn a master's degree. To achieve
this goal, you deposit $2000 at the end of each year in an annuity
that pays 7% compounded annually.

A. How much will you have saved at the end of five years?

B. Find the interest.

Question

02-10-2022
Mathematics

Answered

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Suppose that you earned a bachelor's degree and now you're
teaching high school. The school district offers teachers the
opportunity to take a year off to earn a master's degree. To achieve
this goal, you deposit $2000 at the end of each year in an annuity
that pays 7% compounded annually.

A. How much will you have saved at the end of five years?

B. Find the interest.

Sagot :

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