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  3. 21. the following ordinary annuity, the interest i

21. the following ordinary annuity, the interest is compounded with each payment, and the payment is...

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Advance Math

21. the following ordinary annuity, the interest is compoundedwith each payment, and the payment is made at the end of thecompounding period.

Find the required payment for the sinking fund. (Round your answerto the nearest cent.)

Monthly deposits earning 4% to accumulate $3000 after 10years.

22. the following ordinary annuity, the interest is compoundedwith each payment, and the payment is made at the end of thecompounding period.

Find the required payment for the sinking fund. (Round your answerto the nearest cent.)

Yearly deposits earning 12.9% to accumulate $2500 after 12years.

Answer & Explanation Solved by verified expert
3.8 Ratings (329 Votes)
Ordinary Annuity According to given information man deposits the amount at the end of each semi month so it will be an ordinary annuity payments We can use the formula for finding the future value as below FV C x 1 r n1 r    See Answer
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