Find i the rate per period and n the number of periods for

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

Annual deposits of $3,000 are made for 14 years into an annuity that pays 8.1% compounded annually.

i =_____; n =______

Solution

14 years into an annuity that pays 8.1% compounded annually

i = 0.081

n = no. of years = 14