#### Answer

$\$ 281,579.50$

#### Work Step by Step

We are given:
$R=2000, i=0.05, n=40$
The amount of an annuity is given by:
$A_{f}=R \frac{(1+i)^{n}-1}{i}$
$A_{f}=2000\frac{(1+0.05)^{40}-1}{0.05}=\$ 281,579.50$

Published by
Brooks Cole

ISBN 10:
1305115546

ISBN 13:
978-1-30511-554-5

$\$ 281,579.50$

You can help us out by revising, improving and updating this answer.

Update this answerAfter 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.