Question
In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find
In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.
Find the accumulated amount of the annuity. (Round your answer to the nearest cent.)
$1500 annually at 5% for 10 years
I came up with 2443.34 and it is wrong
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Principles Of Corporate Finance
Authors: Lawrence J. Gitman, Sean M. Hennessey
2nd Canadian Edition
0321452933, 978-0321452931
