martoniobackstrom martoniobackstrom

22-12-2022
Mathematics

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A husband and wife plan to save money for their daughter's college education in
5 years. They decide to purchase an annuity with a semiannual payment earning 10.5% compounded semiannually. Find the future value of the annuity in 5
years if the semiannual payment is $3150. Round your answer to the nearest cent.

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