Use a calculator to evaluate an ordinary annuity formulant1- [ (² + 4) * - -]5A = mfor m, r, and t (respectively). Assume monthly payments. (Round your answer to the nearest cent.)$100; 6%; 11 yr.A = $

Monthly payments = $100Interest rate = 6%Number of years = 11To evaluate: Ordinary annuity formula.

Answered: Use a calculator to evaluate an…

Use a calculator to evaluate an ordinary annuity formula (1 + ²)²² - A = m A = $ 1 for m, r, and t (respectively). Assume monthly payments. (Round your answer to the nearest cent.) $100; 6%; 11 yr

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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Question

Use a calculator to evaluate an ordinary annuity formula
nt
1
- [ (² + 4) * - -]
5
A = m
for m, r, and t (respectively). Assume monthly payments. (Round your answer to the nearest cent.)
$100; 6%; 11 yr.
A = $

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