Answer:
$1,686.99
Explanation:
The future value of an annuity is determined by the following expression:
[tex]FV = A*[\frac{(1+r)^n-1}{r}][/tex]
For an annual investment (A) of $100 for a period (n) of 12 years at an interest rate (r) of 6%, the future value (FV) is:
[tex]FV = 100*[\frac{(1+0.06)^{12}-1}{0.06}]\\FV=\$1,686.99[/tex]
After 12 years, there will be $1,686.99 in the account.
