question archive Tamara has a 20 year annuity due making monthly payments that increase by $485
Tamara has a 20 year annuity due making monthly payments that increase by $485
Subject:MathPrice: Bought3
Tamara has a 20 year annuity due making monthly payments that increase by $485.03 each period. The
first payment is $P and the interest rate is i(52) = 6.315%$. The future value of the annuity is
$25,369,337.92. What is P?
