An annuity providing a rate of return of 5 . 9 % compounded monthly was purchased for

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Question:

An annuity providing a rate of return of

5.9 %

compounded monthly was purchased for $

56, 000 .

The annuity pays $

510

at the end of each month. How much principal will be repaid in the fifth year?

(

Do not round the intermediate calculations. Round your answer to the nearest cent.

)

Principal repaid in the fifth year $

Posted Date: May 18, 2024 04:04 PM

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An annuity providing a rate of return of 5 . 9 % compounded monthly was purchased for

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