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Sarah wants to deposit $12,000 at the end of each year for 9 years into an annuity (a Sarah's local bank offers an account paying
Sarah wants to deposit $12,000 at the end of each year for 9 years into an annuity (a Sarah's local bank offers an account paying 9% interest compounded annually. Find he final amount she will have on deposit (b) Sarah's brother-in-law works in a bank that pays 6% compounded annually. If she deposits her money in this bank instead, how much money will she have in her account? (c) How much would Sarah lose over 9 years by using her brother-in-law's bank instead of her local bank? (a) Determine the correct annuity formula to use and substitute the values into the formula. Select the correct choice below and fill in the answers boxes to complete your choice (Type integers or decimals.)
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