damgogel damgogel

08-12-2021
Mathematics

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Find the amount of an annuity that consists of 25 quarterly payments of $800 each into an account that pays 8% interest per year, compounded quarterly. (Round your answer to the nearest cent.)

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Izzylizzyss009 Izzylizzyss009

08-12-2021

Answer: 400

25 x 800 = 20,000 x 8% = 1,600 / 4 = 400

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