Find the value of the annuity and the interest. Round to the nearest dollar. A=P(1+r)t−1r A=P1+rnnt−1rn P=Arn1+rnnt−1 Periodic Deposit: $10,000 at the end of every three months Rate: 5.25% compounded quarterly Time: 12 nyears

Find the value of the annuity and the interest. Round to the nearest dollar. A=P(1+r)t−1r A=P1+rnnt−1rn P=Arn1+rnnt−1 Periodic Deposit: $10,000 at the end of every three months Rate: 5.25% compounded quarterly Time: 12 nyears

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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Question

Find the value of the annuity and the interest. Round to the nearest dollar.

A=P(1+r)t−1r

A=P1+rnnt−1rn

P=Arn1+rnnt−1

Periodic Deposit: $10,000 at the end of every three months

Rate: 5.25% compounded quarterly

Time: 12 nyears

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