If P dollars are invested at the end of each year in an annuity that earns interest at an annual rate r, the amount in the account will be A dollars after n years, where ? ? If $6,500 is invested each year in an annuity earning 10% annual interest, when will the account be worth $55,000? ? Please enter your answer as a number without the units, rounded to one decimal place.

Question

Fill in the blank(s) with the appropriate word(s).

Answer 1

6.4