Use the formula for the value of an annuity to solve Exercises 7784. Round answers to the
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Use the formula for the value of an annuity to solve Exercises 77–84. Round answers to the nearest dollar.
To offer scholarship funds to children of employees, a company invests $15,000 at the end of every three months in an annuity that pays 9% compounded quarterly.
a. How much will the company have in scholarship funds at the end of ten years?
b. Find the interest.
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