Recently, The Hartford offered an annuity that pays 5.5% compounded monthly. What equal monthly deposit should be

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Recently, The Hartford offered an annuity that pays 5.5% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $100,000 in 10 years?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...
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College Mathematics for Business Economics Life Sciences and Social Sciences

ISBN: 978-0321614001

12th edition

Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

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