Aleks received 60 annuity payments of $1000 each at the end of every month, with the first
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Aleks received 60 annuity payments of $1000 each at the end of every month, with the first payment received after 3 years and 1 month. The interest rate for the deferral period was 4% compounded monthly, and 5.4% compounded monthly for the annuity period. Calculate the present value of this deferred annuity.
AppendixLO1
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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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