# Pearl Medavoy will invest $10,240 a year for 20 years in a fund that will earn 10%

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## Question:

Pearl Medavoy will invest $10,240 a year for 20 years in a fund that will earn 10% annual interest.

. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

First payment today?

First payment at year-end ?

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