Asked by De Onte McKelvin on May 07, 2024

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Determine the future value (accurate to the cent) of the ordinary general annuity:
Determine the future value (accurate to the cent) of the ordinary general annuity:

Ordinary General Annuity

An annuity where payments are made at the end of each period in a series of equal or fixed payments.

Future Value

The equivalence in value of a future asset or monetary sum to a specified current amount.

Accurate To The Cent

Describes a level of precision in financial transactions where amounts are calculated exactly to the smallest currency unit, such as a cent.

  • Ascertain the future valuation of savings arrangements using various interest rates and compounding frequencies.
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FL
Francisco LópezMay 09, 2024
Final Answer :
$21,764.70