You want to save up to buy a house in 9 years. You can earn 2.5% per year on your savings, and you have nothing saved now. You'll contribute $2,244.57 per year for the next 9 years. How much will you have saved up by the end? (Answer in full dollars and cents, rounded to the nearest cent. Do not round intermediate calculations)

Answer rating: 100% (QA)

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