Question

11.4_9 Can you please help me with a step by step guide. Thank you very much!

Find the amount of an annuity with income function *c*(*t*), interest rate *r*, and term *T*. (Round your answer to two decimal places.)

c(t) = $9000, r=4%, T=11 years

$=?

Step 1

**Amount of annuity:**

The general formula to find the amount of annuity is given below:

Step 2

**Find the amount of annuity for the given situation:**

The income function is *c*(*t*) = $9,000,

The rate of interest is *r *=4% = 0.04,

The time period is *T *= 11 years.

The amoun...

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