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Monthly payments of ​$150 are paid into an annuity beginning on January​ 31, with a yearly...

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 _______

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Answer #1

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.

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