Asked by Desirae Whitmer on Jun 13, 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 in which payments are made at the end of each period, such as a year, month, or quarter.

Future Value

The value of an investment at a specific date in the future, considering factors such as interest rates and compounding.

Accurate To The Cent

Describing a level of precision in financial calculations where figures are exact to the smallest denomination of currency, usually a cent.

  • Estimate the eventual value of savings programs with fluctuating interest rates and periods of compounding.
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liridon imeriJun 15, 2024
Final Answer :
$23,607.90