Santiago deposited $10,000 at the end of each quarter for 3 years. If you did not make any withdrawals in all this time and your bank paid you 1% compounded monthly each quarter, what was the future value of the annuity after 3 years? How much of that amount is interest?

Answer rating: 100% (QA)

SOLUTION We can use the formula for the future value of an annuity to calculate the future value of ... View the full answer