If P dollars are invested at the end of each year in an annuity that earns interest at an annual rate r, the amount in the account will be A dollars after n years, where (Equation attached) If $2,200 is invested each year in an annuity that earns 11% annual interest, when will the account be worth $25,000? Round to the nearest tenth
If P dollars are invested at the end of each year in an annuity that earns interest at an annual rate r, the amount in the account will be A dollars after n years, where (Equation attached) If $2,200 is invested each year in an annuity that earns 11% annual interest, when will the account be worth $25,000? Round to the nearest tenth
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.5: Percents
Problem 13WE
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If P dollars are invested at the end of each year in an annuity that earns interest at an annual rate r, the amount in the account will be A dollars after n years, where
(Equation attached)
If $2,200 is invested each year in an annuity that earns 11% annual interest, when will the account be worth $25,000? Round to the nearest tenth.
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