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Sagot :
The future value of Danielle's account in 3 years given the amount invested monthly and the APR is $1909.06.
What is the future value of the account?
The formula that can be used to determine the future value of the annuity is: monthly deposits x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 4%/12
- n = number of years = 3 x 12 = 36
$50 x [(1.003333^36) - 1] / 0.003333 = $1909.06
To learn more about future value, please check: https://brainly.com/question/24108530
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