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Periodic Deposit ?$3000 at the end of each year Rate 6 % compounded annually Time 30 years a. Use the following formula to find the

Periodic

Deposit

?$3000 at the end of each year

Rate

6 % compounded annually

Time

30 years

a.

Use the following formula to find the value of the annuity.

Upper A equals StartFraction Upper P left bracket left parenthesis 1 plus r right parenthesis Superscript t Baseline minus 1 right bracket Over r EndFractionA=P(1+r)t?1r

b.

Find the interest.

a.

After 30

?years, you will have approximately ?$ ?(Do not round until the final answer. Then round to the nearest dollar as needed. Do not include the? $ symbol in your? answer.)

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