Incorrect

Question $4$

$\frac{0}{3\mathrm{.}13}pts$

When Bobby is $30$ years old he starts to save $$100$ per month and he continues to deposit $$100$ per month into this same account until he is $60$ years old. The account pays an annual interest rate of $8\%$ and interest compounds monthly.

If you wantedy to calculate the amount that will be in the account when Bobby is $60$ years old, what formula would you use?

$$ the present value of an ordinary annuity formula

the compound growth formula

the future value of an ordinary annuity formula

the amortization payment formula