> You invest a single amount of $12,000 each year for 5 years at 15 percent. How much will you have after 5 years?

You invest a single amount of $12,000 each year for 5 years at 15 percent. How much will you have after 5 years?

You invest a single amount of $12,000 each year for 5 years at 15 percent. How much will you have after 5 years?

Posted at： 2014-12-05　
Assuming the deposits are made at the end of each year

The future value of an annuity is given by the formula

FV = Pmt x ( (1 + i)^n - 1 ) / i

http://www.tvmschools.com/formula/future...

FV = 12000 x ( (1 + 15%)^5 - 1 ) / 15%

FV = 80,908.58

there is no way you can get 15% on an investment
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