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Sagot :
The value of the $6000 annuity given annual compounding is $124,836.12.
What is the value of the annuity?
The value of the annuity can be determining using this formula: amount deposited x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- n = number of years
- r = interest rate
$6000 x [(1.155^10) - 1/0.155] = $124,836.12
To learn more about annuities, please check: https://brainly.com/question/24108530
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