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Question

# For the following exercise, determine the value of the annuity for the indicated monthly deposit amount, the number of deposits, and the interest rate.Deposit amount: $\ 100$; total deposits: 120 ; interest rate: $10 \%$, compounded semi-annually

Solution

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Step 1
1 of 6

Given,

The value of the initial deposit is $\100$, the total number of deposits is $120$, the interest rate which is compounded semi annually is given as $10\%$,

we are asked to find the the value of the annuity for the indicated monthly deposit amount, the number of deposits, and the interest rate.

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