You have 50000 in your bank account you plan to save 5000


You have $50,000 in your bank account. You plan to save $5,000 at the end of each year for the next 10 years. The interest rate is 8% per annum, compounded monthly. What is the future value of the annuity (ordinary)?

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Finance Basics: You have 50000 in your bank account you plan to save 5000
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