To help out with her retirement savings, Susan invests in an ordinary annuity that earns 6.6% interest, compounded quarterly. Payments will be made at the end of each quarter. How much money does she need to pay into the annuity each quarter for the annuity to have a total value of $96,000 after 19 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.

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
Chapter4: Polynomials
Section4.6: Multiplying Polynomials
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Finding the periodic payment needed to meet an investment goal
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To help out with her retirement savings, Susan invests in an ordinary annuity that earns 6.6% interest, compounded quarterly. Payments will be made at the
end of each quarter.
How much money does she need to pay into the annuity each quarter for the annuity to have a total value of $96,000 after 19 years?
Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.
?
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Transcribed Image Text:Chrome File Edit View History Bookmarks Profiles Tab Window Help ← → C Yahoo Mail M Inbox (1) - cj x $|| (6 unread) - X www-awu.aleks.com/alekscgi/x/Isl.exe/1o_u-IgNsIkasNW8D8A9PVVfh08cSwIMuwt718me-6P_GodLp1p2v4mMYbF9_miXao6vkCzFq00a0ofCu5Nqp8TtUiBBfS... Login - Powered b... Login - Powered b... M Gmail Parkland Parkland Email 31 Rantoul City Scho... +In-the-Field O CONSUMER MATHEMATICS Finding the periodic payment needed to meet an investment goal Explanation - Homepage x A ALEKS-Can xb Success Con x Health & Hur x Course Catal x Check O X Ś - To help out with her retirement savings, Susan invests in an ordinary annuity that earns 6.6% interest, compounded quarterly. Payments will be made at the end of each quarter. How much money does she need to pay into the annuity each quarter for the annuity to have a total value of $96,000 after 19 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. ? JUL 2 o Mail - Canda x GoGuardian Skyward Student W Math 1/5 ΒΙΟ Q8 Annuities: AX + ☆ =S 口 BIO2 Sat Jul 2 7:14 PM Candace ✓ Español Aa Ⓒ2022 McGraw Hill LLC. All Rights Reserved. Terms of Use | Privacy Center | Accessibility G A & V : Other Bookmarks
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