Steve is considering investing $564 a year for 43 years. How much will this investment be worth at the end of the 43 years if he earns an average annual rate of return of 3.9 percent? Assume Steve invests his first payment of the end of this yea

$60,473

Explanation:

The question is asking to determine the future value.

FV = A × annuity factor

Annuity factor = { [(1+r) ^n] - 1 } / r

FV = Future value

A = amount

R = interest rate

N = number of years

{[(1 + 0.039)^43 ] - 1 } / 0.039 = 107.221939

$564 x 107.221939 = $60,473.17

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1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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