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Suppose $2000 is deposited at the end of each year for 6 years into an ordinary annuity earning 8.4% compounded annually. The account has

Suppose $2000 is deposited at the end of each year for 6 years into an ordinary annuity earning 8.4% compounded annually. The

Suppose $2000 is deposited at the end of each year for 6 years into an ordinary annuity earning 8.4% compounded annually. The account has $14,820.63 at the end of the 6-year period. a) is interest included in the deposits of $2000? Explain in 1 sentence only. b) What is the total interest earned during the 6-year period? c) How much interest is earned during the last year?

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Answer b Years interes t c 1 3 3 Y a No 6 168 35011 54752 7615 99348 Total ... blur-text-image

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