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.
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
Problem 6MRE
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