SOLUTION: you are making monthly payments of 300 into an annuity that pays 9% annual interest. how long will it take to accumulate $10,000?

SOLUTION: you are making monthly payments of 300 into an annuity that pays 9% annual interest. how long will it take to accumulate $10,000?

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Question 840569: you are making monthly payments of 300 into an annuity that pays 9% annual interest. how long will it take to accumulate $10,000?
Answer by Phillips54(20) (Show Source): You can put this solution on YOUR website!
300/10000=9/x
10000*9=90000
90000/300=300
x=300

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