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Posted on Aug 01, 2024

James has set up an ordinary annuity to save for his retirement in 1 6 years. If his monthly payments are $ 2 2 5

James has set up an ordinary annuity to save for his retirement in

16

years. If his monthly payments are $

225

and the annuity has an annual interest rate of

7 %,

what will be the value of the annuity when he retires?

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