Undergraduate

suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 5 . 5 % /

suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 5.5%/year compounded monthly. if the future calue of the annuity after 11 years is $70,000, what was the size of each payment?(round to nearest cent)

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