Question: The answer is 15914.19 Please show step by step and formulas used. Problem 22.3 Calculate the accumulated value of an annuity which pays 1,000 at

The answer is 15914.19 Please show step by step and formulas

The answer is 15914.19

Please show step by step and formulas used.

Problem 22.3 Calculate the accumulated value of an annuity which pays 1,000 at the be- ginning of each year for 10 years. Use an interest rate of i(12) = 0.08. =

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