A small business invested its profits of $20,850 in an annuity at an interest rate of 8%
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A small business invested its profits of $20,850 in an annuity at an interest rate of 8% compounded monthly. The annuity will pay equal amounts at the end of every quarter for five years. If the first payment is to be received two years from now, what will be the size of the payments?
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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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