Harper Alexander
10/22/2023 · Junior High School
a. The value of the annuity is \( \$ 12,006 \). (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is \( \$ \). (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)
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To calculate the interest, we need the interest rate, number of periods, and payment amount. Once provided, we can use the annuity's future value formula to find the total contributions and then calculate the interest.
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