Find the value of the annuity and the interest. Round to the nearest dollar. Periodic Deposit: $50 at the end of every month Rate: 4.25% compounded monthly Time: 9 years

Therefore the value annuity is $6,564.06.

The interest is $1,164.06.

Step-by-step explanation:

The compound monthly interest formula

Here

S= The future value.

P= Periodic investment= $50

r= rate of interest= 4.25%= 0.0425

t = time in year= 9 year.

n= 12 [ Since compounded monthly]

Putting the all values

 =$6,564.06 (approx)

Therefore the value annuity is $6,564.06.

The periodic deposit $50 at the end of every month for 9 year.

9 year= (12×9) months

Total deposit =$ (50×12×9)

                       =$5,400

Interest = Future value - Total deposit

            =$(6,564.06-5,400)

            =$1,164.06

The interest is $1,164.06.