## College Algebra (6th Edition)

A sequence of equal payments made at equal time periods is called a/an $annuity.$ Its value, A, after t years is given by the formula, $A = \frac{P[(1+\frac{r}{n})^{nt}-1]}{\frac{r}{n}}$ where $P$ is the deposit made at the end of each compounding period at $r$ percent annual interest compounded $n$ times per year.
A sequence of equal payments made at equal time periods is called a/an $annuity.$ Its value, A, after t years is given by the formula, $A = \frac{P[(1+\frac{r}{n})^{nt}-1]}{\frac{r}{n}}$ where $P$ is the deposit made at the end of each compounding period at $r$ percent annual interest compounded $n$ times per year.