a. Use the appropriate formula to find the value of the annuity.b. Find the interest.Periodic Deposit$8000 at the end of each yearTime35 yearsRate4% compounded annuallyClick the icon to view some finance formulas.....a. The value of the annuity is $(Do not round until the final answer. Then round to the nearest dollar as needed.)FormulasIn the provided formulas, P is the deposit made at the end of each compoundingperiod, r is the annual interest rate of the annuity in decimal form, n is the numberof compounding periods per year, and A is the value of the annuity after t years.nt|+AP[(1 + n* - 1]- 1A =A =P =rntPrintDone

An annuity is a series of uniform cash flows over a period of time.

Ise the appropriate formula to find the value of the annuity. ind the interest. riodic Deposit 00 at the end of each year Rate |4% compounded annually Time 35 years Click the icon to view some finance formulas. "he value of the annuity is $. not round until the final answer. Then round to the nearest dollar as needed.)

Ise the appropriate formula to find the value of the annuity. ind the interest. riodic Deposit 00 at the end of each year Rate |4% compounded annually Time 35 years Click the icon to view some finance formulas. "he value of the annuity is $. not round until the final answer. Then round to the nearest dollar as needed.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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