Asked by Lillian Hernandez on Jun 16, 2024

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Calculate the term, expressed in years and months, of the following ordinary annuity, using the financial calculator.
Calculate the term, expressed in years and months, of the following ordinary annuity, using the financial calculator.

Financial Calculator

An electronic calculator designed to perform financial functions commonly needed in business and commerce.

Ordinary Annuity

A series of equal payments made at fixed intervals for a specified period of time.

Expressed

something that is stated or made known clearly and explicitly.

  • Use a financial calculator to determine the term of ordinary annuities.
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Verified Answer

OL
Olivia LindseyJun 17, 2024
Final Answer :
8 years