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Solve and please show work.. Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of

Solve and please show work..
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 7%/year compounded monthly. If the future value of the annuity after 11 yr is $50,000, what was the size of each payment? (Round your answer to the nearest cent.) Need Help?Read It Talk to a Tutor -/0.05 points TanApMath5 4.3.018. Suppose payments will be made for 9-yr at the end of each month into an ordinary annuity earning interest at the rate of 6.25%/year compounded monthly. If the present value of the annuity is $48,000, what should be the size of each payment? (Round your answer to the nearest cent.) My Notes 4

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