# Chapter 8, Sequences and Series - Section 8.4 - Mathematics of Finance - 8.4 Exercises: 5

$\$ 360,262.21$#### Work Step by Step We are given:$R=\$5000, i=0.12, n=20$ The amount of an annuity is given by: $A_{f}=R \frac{(1+i)^{n}-1}{i}$ $A_{f}=5000\frac{(1+0.12)^{20}-1}{0.12}=\$ 360,262.21\$

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.