a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Rate Time 6.5% compounded semiannually 25 years Periodic Deposit $80 at the end of every six months i Click the icon to view some finance formulas. a. The value of the annuity is $ 9720. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $ (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.) ***
a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Rate Time 6.5% compounded semiannually 25 years Periodic Deposit $80 at the end of every six months i Click the icon to view some finance formulas. a. The value of the annuity is $ 9720. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is $ (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.) ***
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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a. Use the appropriate formula to find the value of the annuity.
b. Find the interest.
Periodic Deposit
$80 at the end of every six months
iClick the icon to view some finance formulas.
Rate
Time
6.5% compounded semiannually 25 years
a. The value of the annuity is $ 9720.
(Do not round until the final answer. Then round to the nearest dollar as needed.)
b. The interest is $
(Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
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