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Pm=(1+r/k)Pm1+dPm=(1+r/k)Pm1+d If Pm is the amount in a savings annuity for month mm, find the value of P3, given that the interest rate is 3.4%

Pm=(1+r/k)Pm1+dPm=(1+r/k)Pm1+d

If Pm is the amount in a savings annuity for month mm, find the value of P3, given that the interest rate is 3.4% compounded monthly and $175 is deposited each month.

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