An annuity has $159 beginning of month deposits for 10 years with a rate of interest of
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Question:
An annuity has $159 beginning of month deposits for 10 years with a rate of interest of 6% compounded semi-annually. Calculate
a) The Future Value (FV) of the annuity
b) The total amount of money deposited into the account over 10 years.
c) The total amount of interest included in the FV in part “a”.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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