Find the future value for the ordinary annuity with the given payment and interest rate. PMT= $2,200; 1.50% compounded monthly for 5 years. ... The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Find the future value for the ordinary annuity with the given payment and interest rate. PMT= $2,200; 1.50% compounded monthly for 5 years. ... The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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![Find the future value for the ordinary annuity with the given payment and interest rate.
PMT= $2,200; 1.50% compounded monthly for 5 years.
The future value of the ordinary annuity is $
(Do not round until the final answer. Then round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e1e0938-63c4-4168-9c76-22576d43d39e%2F26971323-158f-4108-a022-e33200fd46f3%2F4i4nw87_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Find the future value for the ordinary annuity with the given payment and interest rate.
PMT= $2,200; 1.50% compounded monthly for 5 years.
The future value of the ordinary annuity is $
(Do not round until the final answer. Then round to the nearest cent as needed.)
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