Find the value of the annuity and the interest. Round to the nearest dollar. nt P A - A _ ² (¹+1)-1] () = = nt ( P[(1+r)¹-1] r Periodic Deposit: $100 at the end of each year Rate: 5% compounded annually Time: 10 years ||

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Find the value of the annuity and the interest. Round to the nearest dollar.
AA
P[(1+r)¹-1]
r
A=
nt
OA. $310; $690
OB. $1,258; $258
OC. $3,258; $2,258
OD. $1,103; $103
P=
8
Periodic Deposit: $100 at the end of each year
Rate: 5% compounded annually
Time: 10 years
[(₁+1)
n
nt
Transcribed Image Text:Find the value of the annuity and the interest. Round to the nearest dollar. AA P[(1+r)¹-1] r A= nt OA. $310; $690 OB. $1,258; $258 OC. $3,258; $2,258 OD. $1,103; $103 P= 8 Periodic Deposit: $100 at the end of each year Rate: 5% compounded annually Time: 10 years [(₁+1) n nt
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