An annuity with a cash value of $10 500 pays $900 at the beginning of every three

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An annuity with a cash value of $10 500 pays $900 at the beginning of every three months. The investment earns 11% semi-annually.
(a) How many payments will be paid?
(b) What is the size of the final annuity payment?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Sep 21, 2024 05:20 AM

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An annuity with a cash value of $10 500 pays $900 at the beginning of every three

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a ENDmode PY 4 CY 2 11 IY 10 500 PV 900 PMT 0 FV CPT ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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