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.)
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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