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a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $80 at the end of each month Rate 7% compounded monthly Time 35 years Click the icon to view some finance formulas. a. The value of the annuity is $ (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $. (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)

a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $80 at the end of each month Rate 7% compounded monthly Time 35 years Click the icon to view some finance formulas. a. The value of the annuity is $ (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $. (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $80 at the end of each month Rate 7% compounded monthly Time 35 years Click the icon to view some finance formulas. a. The value of the annuity is $. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $. (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.) Time Remas
Transcribed Image Text:a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $80 at the end of each month Rate 7% compounded monthly Time 35 years Click the icon to view some finance formulas. a. The value of the annuity is $. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $. (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.) Time Remas
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