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Help 10 Suppose $2800 is invested annually into an annuity that earns 7% interest. If P dollars are invested annually at an interest rate of

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Help 10

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Suppose $2800 is invested annually into an annuity that earns 7% interest. If P dollars are invested annually at an interest rate of r, the value of the annuity after n years is given by the following equation. How much is the annuity worth after 7 yr? W =P (1 +r)n - 1 The annuity will be worth $ (Do not round until the final answer. Then round to the nearest cent as needed.)

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