Problem
Annuities are insurance contracts that make regular payments to you either immediately or at some point in the future. You can purchase an annuity to help grow or protect your retirement savings or to provide you with guaranteed income. On March 15, 2022, Ali joined a football club. His bank will automatically deduct BD 200 from his checking account at the end of each month, and deposit it into his football account, where it will earn 11% annual interest. The account comes to term on January 7, 2023. Analysis the following:
1. Future value of Ali's football club account.
2. Ali's total contribution to the account.
3. Total interest earned on the account.