You have found an annuity that will pay 4.75% annually and you plan to put $1,000 into the annuity each year for 12 years. To the nearest dollar, what would be the value of this annuity after 12 years?
You have found an annuity that will pay 4.75% annually and you plan to put $1,000 into the annuity each year for 12 years. To the nearest dollar, what would be the value of this annuity after 12 years?
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Transcribed Image Text:You have found an annuity that will pay 4.75% annually and you plan to put $1,000 into the annuity each year for 12 years. To the nearest dollar, what would be the
value of this annuity after 12 years?
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