What amount would accumulate if you invested $1,000 at the end of each period for 21 periods at 10%?
To calculate the amount that would accumulate if you invested $1,000 at the end of each period for 21 periods at 10%, you can use the formula for the future value of an ordinary annuity.
The formula is:
FV = P * ((1 + r)^n - 1) / r
Where:
FV is the future value
P is the payment amount per period ($1,000)
r is the interest rate per period (10% or 0.1)
n is the number of periods (21)
Plugging in the values, we have:
FV = 1000 * ((1 + 0.1)^21 - 1) / 0.1
Calculating this equation will give us the future value of the investment after 21 periods.