Solved: Use the formula for the value of an annuity to solve Exercises 8792. Round
Chapter 11, Problem 88(choose chapter or problem)
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 $2500 at the end of each year in an annuitythat pays 6.25% compounded annually.a. How much will you have saved at the end of fiveyears?b. Find the interest.
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