Join the IDNLearn.com community and get your questions answered by knowledgeable individuals. Our platform offers reliable and comprehensive answers to help you make informed decisions quickly and easily.

Shen wants to save money to purchase a car. He buys an annuity with quarterly payments that earn 2.5% interest, compounded quarterly. Payments will be made at the end of each quarter. Find the total value of the annuity in 5 years if each quarterly payment is $928 .