Math Problem Statement
a.a.
Use the appropriate formula to find the value of the annuity.
b.b.
Find the interest.
Periodic Deposit
Rate
Time
$20002000
at the end of every three months
7.25 %7.25%
compounded quarterly
55
years
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Part 1
a.a.
The value of the annuity is
$enter your response here.
(Do not round until the final answer. Then round to the nearest dollar as needed.)
Part 2
b.b.
The interest is $ nothing .$enter your response here.
(Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Finance
Annuities
Compound Interest
Formulas
Future Value of Annuity formula
Theorems
-
Suitable Grade Level
Adult learners
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