Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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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](https://content.bartleby.com/qna-images/question/b8a8da77-9f04-4511-b9d9-b7e746f1af1d/23f968dc-0a45-4505-bf3f-54f0a6c6b0dd/f0obax8_processed.jpeg)
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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