Finite Math
posted by Matt .
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.

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.
Respond to this Question
Similar Questions

math
find the present value of ordinary annuity payments of 890 each year for 16 years at 8% compounded annually What is the amount that must be paid (Present Value) for an annuity with a periodic payment of R dollars to be made at the … 
math
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 6%/year compounded monthly. If the future value of the annuity after 10 yr is $55,000, what was the size of each payment? 
finite math
A $1.2 million state lottery pays $5,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 7.7%, compounded monthly? 
algebra
Suppose a retiree wants to buy an ordinary annuity that pays her $2,000 per month for 20 years. If the annuity earns interest at 3.5% interest compounded monthly, what is the present value of this annuity? 
math
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the future value of the annuity after 14 yr is $70,000, what was the size of each payment? 
Finite Math
The amount (future value) of an ordinary annuity is given. Find the periodic payments. A = $2500, and the annuity earns 6.5% compounded annually for 4 years. 
math
James has set up an ordinary annuity to save for his retirement in 18 years. If his monthly payments are $225 and the annuity has an annual interest rate of 8% compounded monthly, what will be the value of the annuity when he retires? 
math
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 3.5%/year compounded monthly. If the future value of the annuity after 12 years is $50,000, what was the size of each payment? 
Finite math
Consider the following annuity scheme: regular payments of $200 are made every two months at the end of the month (in other words, there are six equally spaced payments over the year) into an account with a nominal rate of 6% compounded … 
Math
James has set up an ordinary annuity to save for his retirement in 19 years. If his monthly payments are $250 and the annuity has an annual interest rate of 7.5%, what will be the value of the annuity when he retires?