Find the future value of annuity due with an annual payment of $11,000 for three years at 5% annual interest using the simplest formula. How much was invested? How much interest was earned? a. What is the future value of annuity? $_____ (round to the nearest cent) b. How much was invested? $_____ c. How much interest was earned? $____ (round to the nearest cent)
Find the future value of annuity due with an annual payment of $11,000 for three years at 5% annual interest using the simplest formula. How much was invested? How much interest was earned? a. What is the future value of annuity? $_____ (round to the nearest cent) b. How much was invested? $_____ c. How much interest was earned? $____ (round to the nearest cent)
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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Find the future value of annuity due with an annual payment of $11,000 for three years at 5% annual interest using the simplest formula. How much was invested? How much interest was earned?
a. What is the future value of annuity? $_____ (round to the nearest cent)
b. How much was invested? $_____
c. How much interest was earned? $____ (round to the nearest cent)
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