plan for retirement, Raina deposits  $91  each month in an annuity that pays  7.2%  interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in  28  years. Do not round any intermediate computations, and

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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To plan for retirement, Raina deposits 
$91
 each month in an annuity that pays 
7.2%
 interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in 
28
 years.

Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the 
list of financial formulas
.

 

$
 
 
 
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