Princesscxrinne Princesscxrinne

01-05-2018
Mathematics

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Find the amount of annuity.

Amount of each deposit:$6200
Deposited: semiannually
Rate per year: 6%
Number of years:5
Type of annuity: ordinary

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philipscaster83 philipscaster83

01-05-2018

6,200×(((1+0.06÷2)^(2×5)
−1)÷(0.06÷2))
=71,076.05

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