anonymous
  • anonymous
You deposit $60 at the end of each month into an annuity with 7.5% interest compounded monthly. What will be the value of the annuity after 35 years? Do not round until the final answer. Then round to the nearest dollar as needed.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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katieb
  • katieb
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anonymous
  • anonymous
i think -> 60 ((1+0.075/12)^420-1)/(0.075/12)
anonymous
  • anonymous
^420 :O
anonymous
  • anonymous
yea, i'm using the formula on this site http://www.math.hawaii.edu/~hile/math100/conse.htm

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anonymous
  • anonymous
if dats d formula, then answer s $121824
anonymous
  • anonymous
121846 can you guys check if it's the right answer (I rounded to the nearest dollar )
anonymous
  • anonymous
me too got d same yaar :)
anonymous
  • anonymous
thank u for d link nphuongsun93 :)
anonymous
  • anonymous
you re welcome

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