38. Mark Ventura has just purchased an annuity to begin payment at the end of 2011 (that...
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38. Mark Ventura has just purchased an annuity to begin payment at the end of 2011 (that is the date of the first payment). Assume it is now the beginning of the year 2009. The annuity is for $8,000 per year and is designed to last 10 years. If the interest rate for this problem calculation is 13 percent, what is the most he should have paid for the annuity?
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Related Book For 
Foundations Of Financial Management
ISBN: 9780073382388
13th Edition
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
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