At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her account at the end of 3 years is $ .
Hi there The amount deposited at the beginning of each year So use the formula of the future value of annuity due FVAD=pmt [(1+r)^(n)-1)÷r]×(1+r) FvAD future value? PMT payment per year 200 R interest rate 0.2 T time 3 years
