Martina made deposits of $2,000 at the beginning of each year for four years. the rate she earned is 5% annually. what's the value of marina's account in four years? a. $11,051.00 b. $9,051.20 c. $8,260.00 d. $8,260.20

The value of Marina's account in four years is $ 9051.42 .

Option (B) is correct .

Step-by-step explanation:

Formula for future value of annuity .

Where C is the cash flow per period , i is the rate of interest and n is the number of payments .

As given

Martina made deposits of $2,000 at the beginning of each year for four years. The rate she earned is 5% annually.

C = $2000

5% is written in the decimal form .

= 0.05

i = 0.05

n = 4

Putting all the values in the above formula

Therefore the value of Marina's account in four years is $ 9051.42 .

Option (B) is correct .

87%

step-by-step explanation:

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