Question
11a. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.
11a. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $3500 annually at 6% for 10 years 111b. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Monthly deposits earning 4% to accumulate $7000 after 10 years Please answer both as this is one question. Thanks.
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