Respuesta :

mhanifa

Answer:

  • 22677.69

Step-by-step explanation:

Given

  • Amount of contribution P = 500
  • Interest rate r = 8% or 0.08
  • Number of compounds n = 4
  • Time t = 30 years

Find the annuity using the formula below:

  • [tex]A= P*(1 - (1 + r/n)^{-nt})/(r/n)[/tex]
  • [tex]A= 500*(1 -(1+0.08/4)^{-30*4})/(0.08/4) = 22677.69[/tex]