Respuesta :
Answer:
$134,137.98
Explanation:
Salary : $60,000
In the question we are told that Brittany's employer is will match her contributions by investing 3% of her salary into her retirement plan
Brittany is investing 6% of her salary into her retirements plan.
Therefore,
Periodic payment :
(3% of her salary + 6% of her salary)
(3% × $60,000) + (6% × $60,000)
= $1,800 + $3,600
Periodic payment = $5,400
Interest rate : Compounded 10% = 0.1
Number of years: 8 years
Number of periods : semi annually = 6 months i.e payments was paid into her retirement savings every 6 months for 8 years. This indicates that payments was made 16 times
Future Annuity Due Formula =
P[((1+r)ⁿ-1) (1+ r) ÷ r]
$5,400[((1+0.1)^16 -1) × (1+0.1) ÷ 0.1]
= $134,137.98
Future Value of Annuity = $134,137.98
