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March 29, 2017

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The amount (future value) of an ordinary annuity is given. Find the periodic payments.

A = $14,500, and the annuity earns 6% compounded monthly for 10 years.

  • Finite Math - ,

    P( (1+i)^n - 1)/i = amount

    i = .06/12 = .005
    n = 10(12) = 120

    after all the others you did, I am sure you can take it from here.

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