Jerry N.

asked • 11/02/20

Find i​ (the rate per​ period) and n​ (the number of​ periods) for the following annuity. Monthly deposits of ​$400 are made for 6 years into an annuity that pays 7​% compounded monthly.

Find i​ (the rate per​ period) and n​ (the number of​ periods) for the following annuity.

Monthly deposits of ​$400 are made for 6 years into an annuity that pays 7​% compounded monthly.


i= ________

​(Type an integer or decimal rounded to four decimal places as​ needed.)

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