# What is the correct answer and how did I get to it?

*label*Mathematics

*timer*Asked: May 9th, 2015

**Question description**

Dr. C put $300 every month into an annuity with an interest rate of 7.5% compounded monthly. If Dr. C deposits $300 per month for 30 years, what will be the value of the annuity? How much of the annuity will be from interest alone?