Solved

Solve the Problem. -An Ordinary Annuity Has a Value of $1,333.85 at the $1,333.85

Question 38

Short Answer

Solve the problem.
-An ordinary annuity has a value of $1,333.85 at the end of 4 years when $150 is deposited every 6 months into
an account earning 6% compounded semiannually. How much interest has been earned?

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q33: Solve the problem.<br>-The State Employees' Credit Union

Q34: Use I = Prt for simple interest

Q35: Find the rate of interest required to

Q36: Find the compound amount for the deposit.

Q37: Solve the problem. Round dollar amounts to

Q39: Solve the problem.<br>-What is the future value

Q40: Solve the problem. Round to the nearest

Q41: Use the formula A = P(1 +

Q42: Use an amortization table to solve the

Q43: What is the annual percentage yield (APY)