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Julien has paid $16,000 for a retirement annuity from which he will receive $1,669 at the end of every three mon The payments are deferred
Julien has paid $16,000 for a retirement annuity from which he will receive $1,669 at the end of every three mon The payments are deferred for 14 years and interest is 4% compounded quarterly. (a) How many payments will Julien receive? (b) What is the size of the final payment? (c) How much will Julien receive in total? (d) How much of what he receives will be interest? (a) Julien will receive 19 payments. (Round up to the nearest whole number.) (b) The size of the final payment is $ (Round the final answor to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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