At the beginning of each year, Joe invests $10,000 in his retirement fund. The fund gives 10% interest, compounded annually. At the end of the third year, how much money will be in Joe's fund?
Since money is invested at beginning of periods , this is an annuity due ....as opposed to anordinary annuity where payments are at the end of the periods
annuity due calculation
value = pmt * [ ( (1+i)n - 1) ] / i * (1+i)
for this problem i = 10% = .10
periods = n = 3 years
pmt = 10 000
plug in those values to get $ 36410