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Rebecka invests $170,000 in an annuity that earns 5.25% interest compounded annually. It...

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Accounting

Rebecka invests $170,000 in an annuity that earns 5.25% interest compounded annually. It makes monthly payments over 10 years. Answer the following questions. For full marks your answer should be rounded to the nearest cent.

  1. How much is the final payment?

    Final Payment = $0.00

  2. How much is the principal reduced in the final year of the annuity?

    Final Year Principal = $0.00

  3. How much interest is earned the final year of the annuity?

    Final Year Interest = $0.00

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