a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $2000 at the end of each year i Click the icon to view some finance formulas. Rate 3% compounded annually Time 35 years 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.) 41.
a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $2000 at the end of each year i Click the icon to view some finance formulas. Rate 3% compounded annually Time 35 years 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.) 41.
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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Transcribed Image Text:a. Use the appropriate formula to find the value of the annuity.
b. Find the interest.
Periodic Deposit
$2000 at the end of each year
Rate
3% compounded annually
Click the icon to view some finance formulas.
Time
35 years
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.)
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