Posted by Heather on Monday, April 5, 2010 at 9:19pm.
If Naomi decides that she will invest $3,000 per year in a 6% annuity for the first ten years, $6,000 for the next ten years, and $9,000 for the next ten years, how much will she accumulate? Treat each ten year period as a separate annuity. After ten years of an annuity, then it will continue to grow at compound interest for the remaining years of the 30 years.

business math  Reiny, Monday, April 5, 2010 at 9:58pm
amount
= 3000(1.06^10  1)/.06(1.06)^20 + 6000(1.06^10  1)/.06(1.06)^10 + 9000(1.06^10  1)/.06
= 387073.72
another way:
amount = 3000(1.06^30  1)/.06 + 3000(1.06^20  1)/.06 + 3000(1.06^10  1)/.06
= 387073.72

business math  Heather, Monday, April 5, 2010 at 10:22pm
Thank you sooooo much Reiny you are a blessing tonight.

business math  Anonymous, Tuesday, January 31, 2017 at 6:22pm
himb uhihjuhou
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