executive prepares for retirement by depositing $7000 into an annuity each year for 20 years. The annuity earns 6.6% year. Find the future value of the annuity at the end of 20 years. (Round your final answer to two decimal places.) X

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.3: Geometric Sequences And Series
Problem 8ECP: An investor deposits $70 on the first day of each month in an account that pays 2 interest,...
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An executive prepares for retirement by depositing $7000 into an annuity each year for 20 years. The annuity earns 6.6%
per year. Find the future value of the annuity at the end of 20 years. (Round your final answer to two decimal places.)
X
Transcribed Image Text:An executive prepares for retirement by depositing $7000 into an annuity each year for 20 years. The annuity earns 6.6% per year. Find the future value of the annuity at the end of 20 years. (Round your final answer to two decimal places.) X
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