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Rebecka invests $170,000 in an annuity that earns 5.25% interest compounded annually. It makes monthly payments over 10 years. Answer the following questions. For full
Rebecka invests $170,000 in an annuity that earns 5.25% interest compounded annually. It makes monthly payments over 10 years. Answer the following questions. For full marks your answer should be rounded to the nearest cent.
- How much is the final payment?
Final Payment = $0.00
- How much is the principal reduced in the final year of the annuity?
Final Year Principal = $0.00
- How much interest is earned the final year of the annuity?
Final Year Interest = $0.00
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