A woman deposits 15 000 at the end of each year for 14 years

Last updated: 4/26/2023

A woman deposits 15 000 at the end of each year for 14 years in an investment account with a guaranteed interest rate of 4 compounded annually a Find the value in the account at the end of the 14 years b Her sister works for an investment firm that pays 3 compounded annually If the woman deposits money with this firm instead of the one in part a how much will she have in her account at the end of 14 years c How much would she lose or gain over 14 years by investing in her sister s firm a The woman s deposits form an should be used because the deposits are made at the of each period Therefore the formula