Use the Ordinary Annuity Formula to Determine the Accumulated Amount

question 56

Multiple Choice

Use the ordinary annuity formula to determine the accumulated amount in the annuity. Round the answer to the nearest cent.
-$125 is invested monthly for 8 years at 8% compounded monthly

• A) $16,733.57
• B) $17,133.59
• C) $17,433.69
• D) $17,333.70

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