In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of t...

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In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of t...

In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.

Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.)

$3500 yearly at 8% to accumulate $100,000

Please elaborate on the steps. I've completed the question following samples and my textbook and keep getting it wrong

math Advanced-Math

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Answer 1

Answer #1

So =n roo, ooo = 3500 | (146,bg)-1 o.68 (·08). 3.2/8 (3-29) PO The ntade J nyu o neath te ven 缓accumulated on outi 154 3yea

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Answer 2

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