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 =

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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) About Me  (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.