Question: Pls explain how to get answer without excel Question 7 0 / 1 point You purchased a growing annuity. You paid $84,045 for the growing

Pls explain how to get answer without excel Question 7 0

Pls explain how to get answer without excel

Question 7 0 / 1 point You purchased a growing annuity. You paid $84,045 for the growing annuity. The growing annuity will make 23 annual payments. The first payment will be received 1 year from today. The payments are expected to increase by 2.4% per year. You have a required rate of return of 7.9% compounded annually. What is the amount of amount of the payment you will receive one year from today? Your answer should be accurate to two decimal places. Answer: x (6,605.39) Question 8 0 / 1 point You are saving for retirement. You will make 46 annual payments into your retirement account. The first payment of $5,035 will be made 1 year from today. The payments are expected to increase by 4.4% per year. You have a required rate of return of 10.9% compounded annually. How much money will be in the account in 46 years? Your answer should be accurate to two decimal places. Answer: x (8,473,741.61)

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