Oliver s grandparents set up an annuity for him He will be paid 350 at the end of each month for the next 5 years The first

Question

Oliver s grandparents set up an annuity for him He will be paid 350 at the end of each month for the next 5 years The first payment will be made 1 month from now How much do Oliver s grandparents need to deposit in the annuity Assume the money earns 5 7 compounded monthly for the toolbar press ALT F10 PC or ALT FN F10 Mac

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