(adsbygoogle = window.adsbygoogle || []).push({}); 1. The problem statement, all variables and given/known data

To save money you put $3000 at the end of each year in an annuity that pays 6.8% compounded annually. Use the formula for the value of an annuity.

The Given Formula:

How much would be saved at the end of six years.Code (Text):A=P[(1+(r/n)[SUP]nt[/SUP])-1]

______________

(r/n)

2. Relevant equations

The Variables:

The Completed formula:Code (Text):P=3000

R=.068

n=1

t=6When i put this exactly into http://web2.0calc.com/ (because im without a scientific calculator at the moment)Code (Text):A=3000((1+(.068/1)^(1)(6))-1)

_______________________

(.068/1)

3. The attempt at a solution

My Final Answer Is: A=44102.945538271292235294118

Rounded To The Nearest dollar: A=$44103

The program I Am Submitting The Answer To Says, the answer is: A=$21352 rounded to the nearest dollar.

My question is why is my answer wrong, is it the calculator? do i have a parentheses out of place?

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EDIT: fixed spelling errors and a few minor changes, none involving the math.

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# Homework Help: Calculator issues?

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