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Chemistry Asked by a SnapAndSolve user · about 20 hours ago

At the end of each quarter, $4,000 is placed in an annuity that earns 6% interest, compounded quarterly....

19. At the end of each quarter, $4,000 is placed in an annuity that earns 6% interest, compounded quarterly. Find the future value of the annuity in 10 years. Use the Future Value of Ordinary Annuity table below.

Answer

To find the future value of the annuity, use the table for 6% interest compounded quarterly over 10 years (40 periods). The factor from the table is 53.0748. Multiply this factor by the quarterly payment of $4,000:

  1. Future Value = $4,000 * 53.0748 = $212,299.20

Since this value is not one of the options provided, please check the table and calculations again for accuracy.

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