Mathematics, 23.11.2020 05:00 montanolumpuy
To save money for a sabbatical to earn a master's degree, Henry deposits $1400 at the end of each year in an annuity that pays 6.4 % compounded annually. Use the formula for the value of an annuity, shown to the right.
Formula: A=[(1+r/n)^nt-1])/r/n
a. How much will he have saved at the end of years?
b. Find the interest.
Answers: 2
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To save money for a sabbatical to earn a master's degree, Henry deposits $1400 at the end of each ye...
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