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Lada Lada
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6 years ago
Leanne Simon made ordinary annuity payments of $81.00 per month for fourteen years earning 9% compounded monthly. How much interest is included in the future value of the annuity?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
FVn = 81.00  = 81.00(334.5180794) = 27 095.96
Interest is 27095.96 - 81.00(168) = 27095.96 - 13608.00 = $13 487.96
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