Question: Identifying Future Value of Annuities Determine whether or not the given situation describes the future value of an annuity. The Belcoda Municipal Electric Company expects

Identifying Future Value of Annuities

Determine whether or not the given situation describes the future value of an annuity. The Belcoda Municipal Electric Company expects that in

5

years

time it will need to make significant upgrades to its equipment. In order to set aside enough money to pay these expenses, the utility has begun depositing $

98, 000

into an investment account each quarter. The amount they are trying to accumulate is a future value.

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