A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded annually. Find the payment size if 17 equal annual payments will be made from the account. Answer = _______ dollars.

A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded annually. Find the payment size if 17 equal annual payments will be made from the account. Answer = _______ dollars.

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter1: Equations, Inequalities, And Mathematical Modeling

Section1.3: Modeling With Linear Equations

Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...

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A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded annually. Find the payment size if 17 equal annual payments will be made from the account.

Answer = _______ dollars.

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