$510 a year for 8 years compounded annually at 11 percent ?

3 Answers

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  • 2 months ago

    Dear goofle ... why, oh why, have you forsaken me ?? {about $1,000 before the tax on the interest.}

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  • nbsale
    Lv 6
    2 months ago

    Do you want present value or future value?

    Are payments at the BOY or EOY?

    All the possible answers are riffs on the formula for the sum of a geometric series, where the common ratio is (1+i) for future values, and 1/(1+i) for present values.

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  • fcas80
    Lv 7
    2 months ago

    510 * ( (1 + .11)^8 -1) / .11 = 6048.31

    • nbsale
      Lv 6
      2 months agoReport

      Hey, FCAS80, how have you been? FSA80 (AKA Freond) here.

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