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Use the future value formula to find the indicated value. FV = $5775; n = 13; i = 0.06; PMT = ? PMT S (Round to the nearest cent.) Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,031 is deposited into this annuity every month, how much is in the account after 11 years? How much of this is interest? Type the amount in the account: $ (Round to the nearest dollar.)

Use the future value formula to find the indicated value. FV = $5775; n = 13; i = 0.06; PMT = ? PMT S (Round to the nearest cent.) Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,031 is deposited into this annuity every month, how much is in the account after 11 years? How much of this is interest? Type the amount in the account: $ (Round to the nearest dollar.)

Algebra and Trigonometry (6th Edition)
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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Use the future value formula to find the indicated value. FV = $5775; n = 13; i = 0.06; PMT = ? PMT S (Round to the nearest cent.)
Transcribed Image Text:Use the future value formula to find the indicated value. FV = $5775; n = 13; i = 0.06; PMT = ? PMT S (Round to the nearest cent.)
Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,031 is deposited into this annuity every month, how much is in the account after 11 years? How much of this is interest? Type the amount in the account: $ (Round to the nearest dollar.)
Transcribed Image Text:Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,031 is deposited into this annuity every month, how much is in the account after 11 years? How much of this is interest? Type the amount in the account: $ (Round to the nearest dollar.)
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