The Cooper Foundation contributes $50,000 per year into an annuity fund for building a new zoo. The fund earns 4.5% interest. Find the amount in the fund at the end of 20 years. (Round your final answer to two decimal places.)

To solve this problem, we need to use the formula for the future value of an annuity. The formula is:

\[
FV = P \times \frac{(1 + r)^n - 1}{r}
\]

Where:
- $ FV $ is the future value of the annuity (amount in the fund after 20 years),


Calculate the future value of an annuity with yearly contributions of $50,000 at 4.5% interest over 20 years. Learn how the future value of annuities formula is applied to estimate the fund's growth, suitable for Grades 11-12.

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