thajwood22 thajwood22

24-11-2014
Mathematics

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find the amount of an annuity that consist of 26 monthly payments of $100 each into an account that pays 4% interest per year, compounded monthly

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crisforp crisforp

29-11-2014

100 * ( 4 / 100 ) * ( 26 / 12 ) = 4 * ( 26 / 12 ) = 26 / 3 = $ 8.66 ;

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