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