. A density curve consists of the line segment connecting the points (0,1) and (0.5,1) and the segment connecting (0.5, 1) to th
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Hi there
If the amount deposited at (end) of each year, use the formula of the (future/present) value of annuity ordinary
If the amount deposited at the (beginning) of each year use the formula of the (future/present) value of annuity due
So
FvAo=5,000×(((1+0.0245)^(5)−1)
÷(0.0245))
=26,255.38...answer
Hope it helps
If the amount deposited at (end) of each year, use the formula of the (future/present) value of annuity ordinary
If the amount deposited at the (beginning) of each year use the formula of the (future/present) value of annuity due
So
FvAo=5,000×(((1+0.0245)^(5)−1)
÷(0.0245))
=26,255.38...answer
Hope it helps