Mathematics, 19.07.2021 20:50 kayleahrayne
Jake Werkhelser decides to invest $8000 in an IRA at the end of each year for the next 8 years. If he makes these Investments, and if the certificates pay 12%, compounded annually, how much will
he have at the end of the 8 years?
(a) State whether the problem relates to an ordinary annuity or an annuity due.
ordinary annuity
annuity due
(b) Solve the problem. (Round your answer to the nearest cent.)
$
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