In Exercises 9-12, use the ordinary annuity formula A = p [ ( 1 + r n ) ( n ⋅ t ) − 1 ] ( r n ) to determine the accumulated amount in each annuity. Round all answers to the nearest cent. 11. $400 invested quarterly for 35 years at a 8% interest rate compounded quarterly
In Exercises 9-12, use the ordinary annuity formula A = p [ ( 1 + r n ) ( n ⋅ t ) − 1 ] ( r n ) to determine the accumulated amount in each annuity. Round all answers to the nearest cent. 11. $400 invested quarterly for 35 years at a 8% interest rate compounded quarterly
Solution Summary: The author explains the formula used to determine the accumulated amount in each annuity, which is 299,929.32.
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Area Between The Curve Problem No 1 - Applications Of Definite Integration - Diploma Maths II; Author: Ekeeda;https://www.youtube.com/watch?v=q3ZU0GnGaxA;License: Standard YouTube License, CC-BY