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Need help with question 2 and 3 2. Futurevalue of annuities I To compute the value of an annuity due, multiply the value of the
Need help with question 2 and 3
2. Futurevalue of annuities I To compute the value of an annuity due, multiply the value of the ordinary annuity by (141) You are planning to put $3,500 in the bank at the end of each year for the next seven years in hopes that you will have enough money for a new boat. If you are investing at an annual interest rate of 5%, how much money will you have at the end of seven years-rounded to the nearest whole dollar? 583,048 555,366 569,207 $72,667 You've decided to depost your money in the bank at the beginning of the year instead of the end of the year, but now you are making payments of $8,500 at an annual interest rate of 5%. How much money will you have available at the end of seven years-rounded to the nearest whole dollar? $69,207 $50,867 5101,734 572,667 Step by Step Solution
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