2. Determine the interest earned by an ordinary simple annuity of $1400 deposited each quarter for 9 years at 16.6% per year compounded quarterly.
2. Determine the interest earned by an ordinary simple annuity of $1400 deposited each quarter for 9 years at 16.6% per year compounded quarterly.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Please answer in simple terms using this formula in photo 2
![Use the formula A
=
R[(1 + 1)²-1]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1cb0f8c5-7d0f-47d1-8a57-d99c12df3a50%2Ff6398c6c-91a7-4a30-a748-46faed81b046%2F0tlnwxk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the formula A
=
R[(1 + 1)²-1]

Transcribed Image Text:2. Determine the interest earned by an ordinary simple annuity of $1400 deposited each quarter for 9 years at
16.6% per year compounded quarterly.
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