Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly.

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Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly. How much money will he have saved after 5 years?

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Precalculus

ISBN: 9781938168345

1st Edition

Authors: Jay Abramson

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Question Posted: Aug 12, 2022 09:18 AM

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Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly.

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Consider the annuity with deposit amount of 80 Hence a 1 80 ...View the full answer

Precalculus

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