1.9k views
16 votes
6. Rudi deposited $100 at the end of each month in an annuity that paid 7.5%

compounded monthly. At the end of 6 years, the interest rate increased to 8.5%.
The deposits were continued for another 5 years. What is the amount of the
annuity at the last deposit? (4 marks)

User Rockit
by
5.2k points

1 Answer

3 votes

Answer:

1005

Explanation:

User Vardhan
by
4.4k points