Does anybody know what the formula is that is applied to this question to solve it? And if so, can you please show solve this question using that formula so as that I can understand how to do this? This is the question, you deposit $40 at the end of every six months into an annuity with 5% interest compounded semiannually. How much interest will have accumulated after 25 years? Do not round until the final answer. Then round to the nearest dollar as needed.
Finacne Algebra Question
- Thread starter Ms. Sasha
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