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Leila is planning for retirement. She deposits $650 at the end of each year in an ordinary annuity that pays 4% interest, compounded annually. Answer
Leila is planning for retirement. She deposits
$650
at the end of each year in an ordinary annuity that pays
4%
interest, compounded annually. Answer each part. Do not round any intermediate computations nor answers. If necessary, refer to the
list of financial formulas
.
(a)Find the total value of the annuity at the end of the 1st year.$ (b)Find the total value of the annuity at the end of the2nd year.$ (c)Find the total value of the annuity at the end of the3rd year.$ |
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