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Annuity question (1 Viewer)

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Screen Shot 2017-09-28 at 7.29.59 pm.png

I put the values into the future value formula: 1000(1+3.75%/12)^15 = $1047.91

But the answer is A

Could anyone help, please?
 

BLIT2014

The pessimistic optimist.
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What year was that question from?
 

BLIT2014

The pessimistic optimist.
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You use the simple interest rate formula (interest rate is flat), rather than the future value formula.
 
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D0gswag

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u dont use the formula
 
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