Recently, More Money 4U offered an annuity that pays 5.4 % compounded monthly. If $1,634 is deposited into this annuity every month, how much is in the account after 12 years? How much of this is interest? Type the amount in the account: $________ (Round to the nearest dollar.) Type the amount of interest earned:$_________ (Round to the nearest dollar.)

Recently, More Money 4U offered an annuity that pays 5.4 % compounded monthly. If $1,634 is deposited into this annuity every month, how much is in the account after 12 years? How much of this is interest? Type the amount in the account: $ (Round to the nearest dollar.) Type the amount of interest earned:$_ (Round to the nearest dollar.)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

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