Simple and Compound Interest
 

Simple and Compound Interest problem 31


At the end of each year for the past 5 years, Petra deposited in the bank an amount of 910. She then received a payment of 6 annuities in the same amount from the savings. The first annuity was received by 4 years after the last application was filed. Accurately calculate the amount of the annuity received if the bank capitalizes annually at 10% interest rate.


 

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