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As part of his retirement planning, Mr. Jones purchases an annuity that pays 11.5% compounded quarterly. If the quarterly payment is $1000, how much will Mr. Jones have saved in…

As part of his retirement planning, Mr. Jones purchases an annuity that pays 11.5% compounded quarterly. If the quarterly payment is $1000, how much will Mr. Jones have saved in…
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As part of his retirement planning, Mr. Jones purchases an annuity that pays 11.5% compounded quarterly. If the quarterly payment is $1000, how much will Mr. Jones have saved in 6 years?

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User Richard Erickson
by
8.2k points

1 Answer

4 votes

Answer:

24000

Explanation:

answered
User Kees Van Dieren
by
8.4k points
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