Explanation Given: Given that at the end of each payment amount deposited ( R ) is $ 1000 for 25 years with the interest rate of 8 % compounding semiannually. Formula used: The total amount of annuity can be obtained by the formula, S = R [ ( 1 + i ) n − 1 i ] where R is the semiannual payment, n is the given time and i is the rate of interest Calculation Here the value of semiannual payment, time and rate of interest are, R = $ 1000 , n = 50 and i = 8 2 %

11th Edition

ISBN: 2818440028625

Author: Lial

Publisher: ELSEVIER

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Chapter 12.2, Problem 38E

To determine

To find: The total amount in the account.

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Chapter 12.2, Problem 37E

Chapter 12.2, Problem 39E

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Chapter 12 Solutions

CALCULUS WITH APPLICATIONS

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