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Please give me the correct answer with accurate calculation.

You must round to the nearest cent as​ needed!

To solve this problem, we need to calculate the future value of an ordinary annuity where Latanya Brown invests $3,000 annually at an interest rate of 7% for 15 years. We'll use the Future Value of $1.00 Ordinary Annuity table provided to find the factor corresponding to 15 periods (years) at 7% interest.

**Steps:**

1. **Find the future value factor**: From the table, the factor for 15 years at 7% is 27.129.
2. **Calculate the future value**: Multiply the annual investment amount by the future value factor.
3. **Calculate the total investment**: Multiply the annual payment by the number of years.
4. **Calculate the earned interest**: Subtract the total investment from the future value.

**Calculations:**

1. **Future Value**:
   \[ \text{Future Value} = \text{Annual Payment} \times \text{Future Value Factor} \]
   \[ \text{Future Value} = \$3,000 \times 27.129 \]
   \[ \text{Future Value} = \$81,387.00 \]

2. **Total Investment**:
   \[ \text{Total Investment} = \text{Annual Payment} \times \text{Number of Years} \]
   \[ \text{Total Investment} = \$3,000 \times 15 \]
   \[ \text{Total Investment} = \$45,000.00 \]

3. **Earned Interest**:
   \[ \text{Earned Interest} = \text{Future Value} - \text{Total Investment} \]
   \[ \text{Earned Interest} = \$81,387.00 - \$45,000.00 \]
   \[ \text{Earned Interest} = \$36,387.00 \]

**Answers:**

- The future value is **$81,387.00**.
- The total investment was **$45,000.00**, and the earned interest was **$36,387.00**.

Would you like any further explanations or details?

Here are some more questions you might have:
1. How do ordinary annuities differ from annuities due?
2. What are some other investment options with compound interest?
3. How is the future value of an annuity calculated without using tables?
4. Can we calculate the present value of an annuity using similar tables?
5. What factors influence the interest rates in annuities?

**Tip:** When planning for long-term investments, always consider the impact of interest rates and the type of compounding on your returns.

Learn how to calculate the future value of an ordinary annuity where Latanya Brown invests $3,000 annually at 7% interest for 15 years. Detailed step-by-step calculations included. Future value: $81,387.00, total investment: $45,000.00, earned interest: $36,387.00.

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