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You make deposits of $400 at the beginning of every month, into an account paying 8%...

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Finance

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:

a.136,338

b.137,338

c.138,338

d.139,338

Answer & Explanation Solved by verified expert
4.2 Ratings (853 Votes)
Information provided Monthly deposit 400 Time 15 years12 180 months Interest arte 812 067 The question is concerning finding the future value of an annuity due Annuity due    See Answer
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Transcribed Image Text

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:a.136,338b.137,338c.138,338d.139,338

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