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Use the annuity formula and the given information to solve the following problems. In all cases, interest rates are given as annual rates. PMT =

Use the annuity formula and the given information to solve the following problems. In all cases, interest rates are given as annual rates.

PMT = $100 4% compounded quarterly t = 2 years Find S.

SPMT (1 + r)" - 1 (+)-1] r where S = amount in the annuity PMT amount of each deposit r = periodic interest rate n = number of deposits

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