this annuity every month, how much is in the account after 8 years? How much of this is interest? Type the amount in the account: $212590.28 (Round to the nearest dollar.) Type the amount of interest earned: $39982.28 (Round to the nearest dollar)
this annuity every month, how much is in the account after 8 years? How much of this is interest? Type the amount in the account: $212590.28 (Round to the nearest dollar.) Type the amount of interest earned: $39982.28 (Round to the nearest dollar)
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 15E
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Question
![Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $1,798 is deposited into
this annuity every month, how much is in the account after 8 years? How much of this is interest?
Type the amount in the account: $212590.28
(Round to the nearest dollar.)
Type the amount of interest earned: $39982.28
(Round to the nearest dollar)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1b49c167-95c3-40b6-9e59-c9c5a004620d%2Fd420091e-9e0e-4379-9017-708e787bf496%2F2hxxx0j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $1,798 is deposited into
this annuity every month, how much is in the account after 8 years? How much of this is interest?
Type the amount in the account: $212590.28
(Round to the nearest dollar.)
Type the amount of interest earned: $39982.28
(Round to the nearest dollar)
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