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How much interest is included in the future value of an ordinary simple annuity of $850 paid every six months at 7% compounded semi-annually if
How much interest is included in the future value of an ordinary simple annuity of
$850
paid every six months at
7%
compounded
semi-annually
if the term of the annuity is
5
years?
The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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