Math question Help needed

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

The future value of $10,000 annuity deposited at 12% compounded annually for each of next 5 years is? (Round To The Nearest Whole Dollar)

Jun 17th, 2015

Thank you for the opportunity to help you with your question!


Since, Future value=Present value(1+r)^n

=$10000(1+12/100)^5

=$10000(1+0.12)^5

=$10000(1.12)^5

= $17623.42 (rounded off)

Jun 17th, 2015

That is not one of the mutiple choice answers that is given?

Jun 17th, 2015

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