n ordinary annuity that earns 4.2% interest, compounded cal value of $73,000 after 15 years? Español

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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O CONSUMER MATHEMATICS
Finding the periodic payment needed to meet an investment goal
(10 unread) - X
Explanation
-
Check
Boris plans to set aside money for his young daughter's college tuition. He will deposit money in an ordinary annuity that earns 4.2% interest, compounded
annually. Deposits will be made at the end of each year.
How much money does he need to deposit into the annuity each year for the annuity to have a total value of $73,000 after 15 years?
Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.
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Transcribed Image Text:Chrome File Edit View History Bookmarks Profiles Tab Window Help O Error Homepage - x A ALEKS-Can x b Success Con x P Health & Hur x Course Catal x ► Annuities: A X www-awu.aleks.com/alekscgi/x/Isl.exe/1o_u-IgNsIkasNW8D8A9PVVfh08cSwIMuwt718me-6P_GodLp1p2v4mMYbnqDfVi_zbnq2ZqsQ0dPlrVUwLjgsAEBUKSblnsDNi... Login - Powered b... Login - Powered b... M Gmail Parkland Parkland Email 31 Rantoul City Scho... +In-the-Field ← → C Yahoo Mail M Inbox (3) - cj X $ O CONSUMER MATHEMATICS Finding the periodic payment needed to meet an investment goal (10 unread) - X Explanation - Check Boris plans to set aside money for his young daughter's college tuition. He will deposit money in an ordinary annuity that earns 4.2% interest, compounded annually. Deposits will be made at the end of each year. How much money does he need to deposit into the annuity each year for the annuity to have a total value of $73,000 after 15 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. O X - Ś ? JUL 3 GoGuardian Skyward Student EX [32] W Math 3/5 BIO BIO2 ☆ Sun Jul 3 2:08 PM x + Candace ✓ Español Aa Ⓒ2022 McGraw Hill LLC. All Rights Reserved. Terms of Use | Privacy Center | Accessibility G A & V : Other Bookmarks
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