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Thread: Acme Annuities recently offered an annuity that pays 7.8% compounded monthly.

  1. #1
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    Exclamation Acme Annuities recently offered an annuity that pays 7.8% compounded monthly.

    What equal monthly deposit should be made into this annuity in order to have $153,000 in 19 years?

    The answer is $294.17

    What are the formula and steps?
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  2. #2
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    Re: Acme Annuities recently offered an annuity that pays 7.8% compounded monthly.



    solve for $P$ ...
    Attached Thumbnails Attached Thumbnails Acme Annuities recently offered an annuity that pays 7.8% compounded monthly.-finance1.png  
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