Sandy wants to go on a trip in 10 years. If she invests $1,000 per year at the end of each year for 10 years at a 12% interest rate, she will accumulate to spend on her trip

$17,549

Explanation:

Data given in the question

Number of years = 10

Invested amount = $1,000 per year

Rate of interest = 12%

So by considering the above information, the accumulated amount is

= Invested amount × future value of an annuity for 12% at 10 years

= $1,000 × 17.549

= $17,549

Refer to the Future value of an annuity table

In order to find out the accumulated amount we simply multiplied the invested amount with the factor

how does that happen,where u steel points

answer; common market;