keelinhawkins174 keelinhawkins174

25-09-2022
Mathematics

contestada

Use graphical approximation techniques to answer the question. When would an ordinary annuity consisting of quarterly payments of $608.99 at 3%
compounded quarterly be worth more than a principal of $5800 invested at 7% simple interest?

The annuity would be worth more than the principal in approximately how many years?
(Round to one decimal place as needed.)

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