If you make quarterly deposits of $415.00 into an ordinary annuity earning an annual interest rate of 6.43%, how much will be in the account after 14 years? How much interest did you earn in those 14 years? How much is in the account after 14 years? How much interest was earned after 14 years? (Note: Your answer is a dollar amount and should include a dollar sign)

If you make quarterly deposits of $415.00 into an ordinary annuity earning an annual interest rate of 6.43%, how much will be in the account after 14 years? How much interest did you earn in those 14 years? How much is in the account after 14 years? How much interest was earned after 14 years? (Note: Your answer is a dollar amount and should include a dollar sign)

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...

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