Monthly payments of $150 are paid into an annuity beginning on January 31, with a yearly interest rate of 3 %, compounded monthly. Add the future values of each payment to calculate the total value of the annuity on September 1.
on September 1st annuity will be _______
Then, future values of each month's payment will be calculated till 1st sept as given below. therefore the last payment will be on 31st Aug.
Get Answers For Free
Most questions answered within 1 hours.