a. Use the appropriate formula to find the value of the annuity b. Find the interest. Periodic Deposit $1000 at the end of each year Rate ime 4.5% compounded annually 40 years Click the icon to view some finance formulas. a. The value of the annuity is s (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is s (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 13E
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a. Use the appropriate formula to find the value of the annuity
b. Find the interest.
Periodic Deposit
$1000 at the end of each year
Rate
ime
4.5% compounded annually
40 years
Click the icon to view some finance formulas.
a. The value of the annuity is s
(Do not round until the final answer. Then round to the nearest dollar as needed.)
b. The interest is s
(Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
Transcribed Image Text:a. Use the appropriate formula to find the value of the annuity b. Find the interest. Periodic Deposit $1000 at the end of each year Rate ime 4.5% compounded annually 40 years Click the icon to view some finance formulas. a. The value of the annuity is s (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is s (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
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