Calculate the future value of an ordinary annuity consisting

| August 30, 2017

uestion
Calculate the future value of an ordinary annuity consisting of monthly payments of $370 for five years. The rate of return was 8.7% compounded monthly for the first two years, and will be 7.5% compounded monthly for the last three years. (Do not round intermediate calculations and round your final answer to 2 decimal

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