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25 August, 12:36

Find the amount of an annuity that consist of 26 monthly payments of $100 each into an account that pays 4% interest per year, compounded monthly

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  1. 25 August, 12:57
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    100 * (4 / 100) * (26 / 12) = 4 * (26 / 12) = 26 / 3 = $ 8.66;
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