a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $60 at the end of each month Rate 6% compounded monthly Click the icon to view some finance formulas. Time 35 years a. The value of the annuity is $ 85483. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $ (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $60 at the end of each month Rate 6% compounded monthly Click the icon to view some finance formulas. Time 35 years a. The value of the annuity is $ 85483. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $ (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section: Chapter Questions
Problem 8CC
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