Sun America offered an annuity that pays 6.35% compounded monthly. What equal monthly deposit should be made

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Sun America offered an annuity that pays 6.35% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $200,000 in 15 years?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Mar 22, 2022 12:48 AM

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Sun America offered an annuity that pays 6.35% compounded monthly. What equal monthly deposit should be made

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Answer The formula for calculating the equal monthly deposit for an annuity is PV PMT 1rnnt 1 rn W...View the full answer

College Mathematics For Business Economics, Life Sciences, And Social Sciences

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