a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $4000 at the end of each year Rate 7% compounded annually Time 40 years Click the icon to view...


a. Use the appropriate formula to find the value of the annuity.<br>b. Find the interest.<br>Periodic Deposit<br>$4000 at the end of each year<br>Rate<br>7% compounded annually<br>Time<br>40 years<br>Click the icon to view some finance formulas.<br>a. The value of the annuity is $<br>(Do not round until the final answer. Then round to the nearest dollar as needed.)<br>Formulas<br>In the provided formulas, P is the deposit made at the end of each compounding<br>period, r is the annual interest rate of the annuity in decimal form, n is the number<br>of compounding periods per year, and A is the value of the annuity after t years.<br>nt<br>- 1<br>P[(1 + n* - 1]<br>A =<br>A =<br>P =<br>r<br>nt<br>- 1<br>Print<br>Done<br>

Extracted text: a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $4000 at the end of each year Rate 7% compounded annually Time 40 years Click the icon to view some finance formulas. a. The value of the annuity is $ (Do not round until the final answer. Then round to the nearest dollar as needed.) Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. nt - 1 P[(1 + n* - 1] A = A = P = r nt - 1 Print Done

Jun 05, 2022
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