SOLUTION: Assume that you make monthly payments of $ 525 into an ordinary annuity paying 8% compounded monthly. How much will be in the account after 11 years?
Amount =
Algebra.Com
Question 1198880: Assume that you make monthly payments of $ 525 into an ordinary annuity paying 8% compounded monthly. How much will be in the account after 11 years?
Amount =
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.
Take the standard formula and calculate.
See the lesson
- Solved problems on Ordinary Annuity saving plans
in this site, Problems 1, 2, 3.
RELATED QUESTIONS
Assume that you make monthly payments of $425 into an ordinary annuity paying 6%... (answered by MathLover1)
Assume that you make quarterly payments of $700 into an annuity paying 8% interest... (answered by MathLover1)
$100 is deposited monthly into an ordinary annuity that earns 1.8% per month compounded... (answered by Boreal)
Suppose you put $ 525 a month for retirement into an annuity earning 7% compounded... (answered by ikleyn)
Eugene began to save for his retirement at age 20, and for 10 years he put $ 550 per... (answered by ikleyn)
find the amount of annuity that consists of 24 monthly payments of $500 each into an... (answered by ikleyn)
WORKSHEET 2
Interest
Simple Interest
Simple Discount
Compound Interest
Solve for... (answered by ikleyn)
Mr. Thompson wants to make monthly deposits into an annuity for his child so that $10,000 (answered by ikleyn)
you are making monthly payments of 300 into an annuity that pays 9% annual interest. how... (answered by Phillips54)