Calculate the future value of an ordinary annuity consisting of monthly payments of $300 for five years.
Question:
Calculate the future value of an ordinary annuity consisting of monthly payments of $300 for five years. The rate of return was 3% compounded monthly for the first two years, and will be 4.5% compounded monthly for the last three years.
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For the first 2 years PMT 300 n 212 24 i 312 025 For the subsequent 3 ...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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