To help out with her retirement savings, Susan invests in an ordinary annuity that earns 6.6% interest, compounded quarterly. Payments will be made at the end of each quarter. How much money does she need to pay into the annuity each quarter for the annuity to have a total value of $96,000 after 19 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.
To help out with her retirement savings, Susan invests in an ordinary annuity that earns 6.6% interest, compounded quarterly. Payments will be made at the end of each quarter. How much money does she need to pay into the annuity each quarter for the annuity to have a total value of $96,000 after 19 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.
Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
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Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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To help out with her retirement savings, Susan invests in an ordinary annuity that earns 6.6% interest, compounded quarterly. Payments will be made at the
end of each quarter.
How much money does she need to pay into the annuity each quarter for the annuity to have a total value of $96,000 after 19 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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