Find the amount of each ordinary annuity. interest is compounded annually. a. r=$350, i=0.05, n=15

asked Jan 16, 2018 23.0k views

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Find the amount of each ordinary annuity. interest is compounded annually.

a. r=$350, i=0.05, n=15

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R=$350, I=0.05, n=15
A = 350 (1+0.05)^15 = 350(1.05)^15 = 350 (2.0789)=727.62 <- Answer

Kylefinn answered Jan 21, 2018

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