Mathematics, 11.01.2021 03:20 samafeggins2

6. Rudi deposited $100 at the end of each month in an annuity that paid 7.5% compounded monthly. At the end of 6 years, the interest rate increased to 8.5%.
The deposits were continued for another 5 years. What is the amount of the
annuity at the last deposit? (4 marks)

Answers: 1

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6. Rudi deposited $100 at the end of each month in an annuity that paid 7.5% compounded monthly. At...

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6. Rudi deposited $100 at the end of each month in an annuity that paid 7.5% compounded monthly. At the end of 6 years, the interest rate increased to 8.5%. The deposits were continued for another 5 years. What is the amount of the annuity at the last deposit? (4 marks)

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Another question on Mathematics

6. Rudi deposited $100 at the end of each month in an annuity that paid 7.5% compounded monthly. At the end of 6 years, the interest rate increased to 8.5%.
The deposits were continued for another 5 years. What is the amount of the
annuity at the last deposit? (4 marks)