SOLUTION: 28. Find the future value of each ordinary annuity, if payments are made and interest is compounded as given. R = 4600; 8.73% interest compounded quarterly for 9 years.
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Question 215312: 28. Find the future value of each ordinary annuity, if payments are made and interest is compounded as given. R = 4600; 8.73% interest compounded quarterly for 9 years. Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! r=4600(1+.0873/4)^9*4
r=4600(1+.021825)^36
r=4600*1.021825^36
r=4600*2.17548
r=$10,007.20 ans.
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