Question : Imagine that you deposit $6,000 a year, starting one year from today, for four years into a savings account paying 6% per annum. (That is one deposit of $6,000 per year.) How much money will you have immediately after you make your fourth and final deposit?
The answer I got was 25,274.18
The work was
6000/.06(1-(1+.06)^-5) = 25,274.18
I also tried this
Both of them were incorrect. I really appreciate the help in advance. Thank you very much!