To offer scholarships to children of employees a company

Last updated: 10/19/2023

To offer scholarships to children of employees a company invests 15 000 at the end of every three months in an annuity that pays 10 compounded quarterly a How much will the company have in scholarship funds at the end of ten years b Find the interest Click the icon to view some finance formulas a The company will have in scholarship funds Do not round until the final answer Then round to the nearest dollar as needed b The interest is S Use the answer from part a to find this answer Round to the nearest dollar as needed Formulas In the following formulas P is the deposit made at the end of each compounding period r is the annual interest rate of the annuity in decimal form n is the number of compounding periods per year and A is the value of the annuity after t years A P 1 0 1 r A P A P 1 r 8 In the following formulas P is the principal amount deposited into an account ris the annual interest rate in decimal form n is the number of compounding periods per year and A is the future value of the account after t years A n nt nt X