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Assume you are planning to invest $ 7,797 each year for six years and will earn 9 percent per year. Determine the future value of this annuity due problem if your first $ 7,797 is invested now. (Round
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Assume you are planning to invest $ 7,797 each year for six years and will earn 9 percent

per year. Determine the future value of this annuity due problem if your first $ 7,797 is
invested now. (Round answer to 0 decimal places.)

User Jasinth Premkumar
by
4.4k points

1 Answer

3 votes

Answer:

Amount invested in the beginning of each year = $5,558 Interest received each year = 7 % Each year interest will be received on the total of that years deposit plus amount accumulated from previous years deposits and interest.

Step-by-step explanation:

User Ben Swanson
by
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