Can you help me understand this Business question?
Find future value of an annuity due with annual payment $10000,
3years at 3% annual interest using simple interest formula. What is the future
value of Annuity? How much invested? How much interest was earned? Round to
nearest cent as needed
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Interest on First
annuity = 10000*0.03* 2 =100*3*2 =600
Interest on second
annuity = 10000*0.03*1 =100*3*1 =300
Total annuity paid =
Total invested =20,000
if we leave third payment
Total invested =30,000
if we include third payment