Calculating Annuity Values If you deposit $3,000 at the end of each of the next 20 years

Question:

Calculating Annuity Values If you deposit $3,000 at the end of each of the next 20 years into an account paying 10.5 percent interest, how much money will you have in the account in 20 years how much will you have if you make deposits for 40 years?

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,...