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a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $3000 at the end of each year Rate 6.5% compounded annually Click the icon to view some finance formulas. Time 35 years a. The value of the annuity is S (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is S (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 $3000 at the end of each year Rate 6.5% compounded annually Click the icon to view some finance formulas. Time 35 years a. The value of the annuity is S (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is S (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)

Advanced Engineering Mathematics
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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a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $3000 at the end of each year Rate 6.5% compounded annually Click the icon to view some finance formulas. Time 35 years a. The value of the annuity is S (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is S (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
Transcribed Image Text:a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $3000 at the end of each year Rate 6.5% compounded annually Click the icon to view some finance formulas. Time 35 years a. The value of the annuity is S (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is S (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 $3000 at the end of each year Click the icon to view some finance formulas. a. The value of the annuity is S (Do not round until the final an Rate 6.5% compounded annually b. The interest is $ (Use the answer from part (a) Formulas A = In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r)¹-1] r A= P Time 35 years Print nt (6) Done CALL P= A + nt - Х
Transcribed Image Text:a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $3000 at the end of each year Click the icon to view some finance formulas. a. The value of the annuity is S (Do not round until the final an Rate 6.5% compounded annually b. The interest is $ (Use the answer from part (a) Formulas A = In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r)¹-1] r A= P Time 35 years Print nt (6) Done CALL P= A + nt - Х
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