A 30-year annuity has end-of-month payments. The first year the payments are $120 each. In subsequent...

A 30-year annuity has end-of-month payments. The first year the payments are $120 each. In subsequent years the monthly payment increases by $5 over what it was the previous year.

Find the accumulated value of this annuity if AEIR=3%

	A.	84,820
	B.	42,390
	C.	105,070
	D.	100,620
	E.	41,560

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Expert Solution

milcah answered 8 months ago

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