If the current rate interest 7%, then the future value (FV) if an investment that pays...

If the current rate interest 7%, then the future value (FV) if an investment that pays $2299 per year and lasts 18 years is closest to_?

Expert Solution

ANSWER = $78,163.78

where,

P = Periodic payment = 2299

r = Interest rate = 7% = 0.07

n = Time period = 18

jeff jeffy answered 2 years ago

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