# Use the formula for the value of an annuity to solve Exercises 8792. Round answers to

## Problem 87 Chapter 11.3

Intermediate Algebra for College Students | 6th Edition

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Intermediate Algebra for College Students | 6th Edition

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Problem 87

Use the formula for the value of an annuity to solve Exercises 8792. Round answers to the nearest dollar.To save money for a sabbatical to earn a masters degree,you deposit \$2000 at the end of each year in an annuitythat pays 7.5% compounded annually.a. How much will you have saved at the end of fiveyears?b. Find the interest.

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