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5. [-/1 Points] DETAILS TANAPMATH7 4.3.018. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose payments will be made for 7- 71 years at the end

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5. [-/1 Points] DETAILS TANAPMATH7 4.3.018. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose payments will be made for 7- 71 years at the end of each month from an ordinary annuity earning interest at the rate of 4.25%/year compounded monthly. If the present value of the annuity is $49,000, what 4 should be the size of each payment from the annuity? (Round your answer to the nearest cent.) Need Help? Read It Watch It

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