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23 February, 03:43

Dave plans to deposit $3,300 in an IRA account on April 15, Year 1. The account will earn 3% annually. If he makes this $3,300 deposit on April 15 of each of the next 14 years (total of 15 deposits), how much will he have on April 14, Year 16?

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  1. 23 February, 05:50
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    63218

    Explanation:

    Annuity - 3300

    FVAD (from table) at 15years, 3% = 19.1569

    Future value = 63217.77=63218
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