USG Annuity and Life offered an annuity that pays 7 25 compounded monthly If $1,000 is deposited into this annuity every month, how much is in the account after 15 years How much of this is interest ...

PMT 1000 n 1512 180 i r12 007 ...

USG Annuity and Life offered an annuity that pays 7.25% compounded monthly. If $1,000 is deposited into

Question:

USG and Life offered an that pays 7.25% compounded monthly. If $1,000 is deposited into this every month, how much is in the account after 15 years? How much of this is interest?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...