At age 30 you deposit $200 at the end of each month into an annuity that pay 3.5% interest compounded monthly. a) At age 66, what would value of the annuity be? b)How much is the total amount of deposits? b) How much interest did you earn?
At age 30 you deposit $200 at the end of each month into an annuity that pay 3.5% interest compounded monthly. a) At age 66, what would value of the annuity be? b)How much is the total amount of deposits? b) How much interest did you earn?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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At age 30 you deposit $200 at the end of each month into an
a) At age 66, what would value of the annuity be?
b)How much is the total amount of deposits?
b) How much interest did you earn?
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