Jane Allison made ordinary annuity payments of $15 per month for 16 years, earning 4.5% compounded monthly.

Question:

Jane Allison made ordinary payments of $15 per month for 16 years, earning 4.5% compounded monthly. How much interest is included in the of the Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...