TIME VALUE OF MONEY : FUTURE VALUE OF A DUE ANNUITY FOR PART PERIOD AND NO ANNUITY THEREAFTER TILL MATURITY

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QUESTION :

 

Mary plans to invest 2,100 annually into an account bearing 5 1/4 interest compounded annually. She will place the annual contributions into the account at the beginning of the each year. If she makes the contributions for four years, ceases making additional contributions, but leaves the accumulated amount in the account for another six years at the 5 1/4% interest, what would be the balance at the end of the ten year period?

    • 13 years ago
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