Bryan decides to invest $800,000 in a period annuity that earns 5.2% APR compounded monthly for a period of 15 years. How much m
2 answers:
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ANSWER
C. 64.29
EXPLANATION
The bigger right triangle is similar to the smaller right triangle, therefore
Multiply both sides by 30;
Simplify
We correct to the nearest hundredthth to obtain,
The correct choice is C.