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An annuity providing a rate of return of 6.5% compounded monthly was purchased for $62,000. The annuity pays $570 at the end of each month.
An annuity providing a rate of return of 6.5% compounded monthly was purchased for $62,000. The annuity pays $570 at the end of each month. How much of Payment 37 will be interest? (Do not round the intermediate calculations. Round your answer to the nearest cent.) Interest $ ? Show all Steps
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