Solución
Sylvia has been saving for a down payment for the purchase of a condominium for 10 years. Monthly deposits of $375 are made into an annuity that earns 4.25% annual interest, compounded monthly. According to account, documents, after these 10 years, there is a balance of $55, 952.72 in the account. How much interest has the account earned. Round the answer to the nearest cent.
Solución
Pasos de solución
Translate the problem into an equation:
Round to the nearest hundredth:
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