Erin decides to invest in an annuity for 3 years at 1 0 % interest compounded annually.

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Erin decides to invest in an annuity for

3

years at

10 %

interest compounded annually. She will deposit $

7, 000

at the end of each period. What will be the ending balance of this annuity after the end of

3

years? Calculate.

Related Book For answer-question

Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Posted Date: Jan 25, 2024 02:34 AM

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Erin decides to invest in an annuity for 3 years at 1 0 % interest compounded annually.

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In this problem you are calculating the future value of an ordinary annuity When you have an o... View the full answer

Fundamentals of Financial Accounting

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