Question
Orla deposits $37,000 into an annuity that earns 8.25% interest compounded monthly, and which generates payments at the end of each quarter year for 4
Orla deposits $37,000 into an annuity that earns 8.25% interest compounded monthly, and which generates payments at the end of each quarter year for 4 years. Answer the following questions. For full marks your answer(s) should be rounded to the nearest cent. How much is the quarterly payment? How much of the 15th payment comes from the annuity's principal? How much of the 3rd payment comes from interest? How much of the payments in the second year will come from the annuity's principal? How much of the payments in the first year will come from interest on the annuity?
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