The value of the ordinary annuity is

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Reference no: EM131081680

Find the value of the ordinary annuity at the end of the indicated time period. The payment R, frequency of deposits m (which is the same as the frequency of compounding), annual interest rate r, and time period t are given.

Amount $500; quarterly; 5.5%; eight years

The value of the ordinary annuity is $______

(round to the nearest cent as needed)

Reference no: EM131081680

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