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Mathematics

Answered

yanni crable deposits $122 in an ordinary annuity at the end of every quarter. The annuity earns 6% interest compounded quarterly. After 4 quarters, the value of $1 with this interest rate is $4.0909. What is the future value of the annuity after 1 year?

Answer :

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Step-by-step explanation:

future value of annuity after 1 year is:

$122× $4.0909=$499.089

=$499.09

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