Respuesta :
Answer:
future value = $6625.34
Explanation:
given data
deposit now = $500
deposit every other year = $1000
rate = 4 %
time = 10 year
solution
we know here that you $1,000 deposits skipping one year
we get here future value that is express as
future value = deposit × [tex](1+r)^{t}[/tex] .......................1
put here value
future value = 500 × [tex](1+0.04)^{10}[/tex] + 1000 × [tex](1+0.04)^{8}[/tex] + 1000 × [tex](1+0.04)^{6}[/tex] + 1000 × [tex](1+0.04)^{4}[/tex] + 1000 × [tex](1+0.04)^{2}[/tex] + 1000
solve it we get
future value = $6625.34
