You have just started a new job and plan to save $4,950 per year for 41 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 9.89 percent

$2,341,579.57

Explanation:

Data given in the question

Annuity value = $4,950

Annual interest rate = 9.89%

Time period = 9.89%

So, by considering the above information, the future value of an annuity is

Future value of annuity = Annuity ×  [(1 + interest rate)^time period - 1] ÷rate

= $4,950 × [(1.0989)^41 - 1] ÷ 0.0989

=$4,950  × 473.0463785846

= $2,341,579.57

answer///the madrid protocol;

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.