Answer:
Future value of an annuity
Explanation:
It is the amount of a set of continuous installments up to a certain future date. It considering a fixed rate of return or Periodical payments. A higher interest rate provides a higher benefit of continuous payment.
Future value of an annuity = [tex]p[\frac{(1+r)^n-1}{r} ][/tex]
Where, p = payment per month
r = Rate of interest
n = number of periodic payment
