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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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