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The Anifowoses have decided to invest in a college fund for their young son. They invested $40,000 in a deferred annuity
Posted: Mon Jul 11, 2022 12:07 pm
by answerhappygod
- The Anifowoses Have Decided To Invest In A College Fund For Their Young Son They Invested 40 000 In A Deferred Annuity 1 (31.65 KiB) Viewed 35 times
The Anifowoses have decided to invest in a college fund for their young son. They invested $40,000 in a deferred annuity that will pay their son at the beginning of every month for 4 years, while he goes to college. If the account earns 3.00% compounded monthly and the annuity payments are deferred for 14 years, what will be the size of the monthly payments? Round to the nearest cent