Mathematics, 26.07.2020 23:01 reyne36
Your parents are giving you $210 a month for four years while you are in college. At an interest rate of .49 percent per month, what are these payments worth to you when you first start college?
Answers: 1
![FV=C\left[\dfrac{(1+i)^n-1}{i}\right]\\\\\\FV=210\left[\dfrac{(1.0049)^{48}-1}{0.0049}\right]=210\left[\dfrac{1.2644-1}{0.0049}\right]=210\left[\dfrac{0.2644}{0.0049}\right]\\\\\\FV=210\cdot 53.966\\\\\\FV=11332.94](/tpl/images/0713/4967/bc2aa.png)
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