10 If $400 per month is deposited into an account earning 6.2% compounded monthly, the value of an ordinary annuity at the end of 8 years is determined using formula: * O A = P(1 + i)" A = Pet 1-(1+i)~* PV = PMT|E*)| (1+i)“–1 FV = PMT["*-]

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Math 10

10
If $400 per month is deposited into an account earning 6.2% compounded monthly, the value
of an ordinary annuity at the end of 8 years is determined using formula:
O A = P(1 + i)"
A = Pet
1-(1+i)-"
PV = PMT
(1+i)" –1
FV = PMT
i
Transcribed Image Text:10 If $400 per month is deposited into an account earning 6.2% compounded monthly, the value of an ordinary annuity at the end of 8 years is determined using formula: O A = P(1 + i)" A = Pet 1-(1+i)-" PV = PMT (1+i)" –1 FV = PMT i
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