A deferred annuity with a present value of $25,000 will pay $500 at the end of every
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A deferred annuity with a present value of $25,000 will pay $500 at the end of every month, and the first payment is received in four years. If the interest rate is 3.6% compounded monthly, calculate the term of the annuity.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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