Find the Future Value of an Annuity with Weekly Deposits

question 12

Short Answer

Find the future value of an annuity with weekly deposits of $12, made over a period of five years, with 3.8% interest compounded weekly.

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Definitions:

Sarbanes-Oxley Act

A U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures, including those related to financial statements and corporate governance.

Authoritative Accounting Guidance

Officially recognized principles and standards that govern financial reporting and accounting practices.

ASC

Accounting Standards Codification, the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities in the United States.

FASB

The Financial Accounting Standards Board, an organization responsible for establishing financial accounting and reporting standards in the United States.