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

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

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