Find the value of the annuity at the end of the indicated number of years. Assume that the interest is compounded with the same frequency as the deposits. (Round your answer to the nearest cent.)$Need Help?Submit AnswerAmount of Depositm$1,250Read ItFrequencynquarterlyRater7%Timet25 yr

Given ,m = $1250 r = 7% = 0.07t = 25 n = 4 (quarterly)

Answered: Need Help? Submit Answer Amount of…

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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Need Help? Submit Answer Amount of Deposit m $1,250 Read It Frequency n quarterly Rate r 7% Time t 25 yr