a.Use the appropriate formula to find the value of the annuity. b.Find the interest. Periodic Deposit Rate Time $6000 at the end of each year 5.5% compounded annually 20 years Click the icon to view some finance formulas. a.The value of the annuity is $_______. (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 Rate Time $6000 at the end of each year 5.5% compounded annually 20 years Click the icon to view some finance formulas. a.The value of the annuity is $_______. (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.)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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a.Use the appropriate formula to find the value of the annuity.
b.Find the interest.
|
Periodic Deposit
|
Rate
|
Time
|
|---|---|---|
|
$6000
at the end of each year |
5.5%
compounded annually |
20
years |
a.The value of the annuity is $_______.
(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.)
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