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Annuity
Steve Jones has decided to start saving for his Son's college education by depositing $3,600 at the end of every year for 10 years. A bank has agreed to pay interest at the rate of 6% compounded annually.
Use the appropriate present or future value table:
FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1
1. How much will Steve have in the bank immediately after his 10th deposit? Round your answer to the nearest dollar. Use the full factor when calculating your results
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