Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) Amount of Deposit Frequency Rate Time $100 quarterly 6% 15 yr 24

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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Find the present value of the ordinary annuity. (Round your answer to the nearest cent.)
Amount of Deposit
Frequency
Rate
Time
m
$100
quarterly
6%
15 yr
24
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ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning