Question
1. Find the present value of an annuity with payments of $600 at the end of every three months for 9 years. The interest rate
1. Find the present value of an annuity with payments of $600 at the end of every three months for 9 years. The interest rate is 10% compounded quarterly.
The present value of the annuity is $
2.
For the following ordinary annuity, determine the size of the periodic payment.
| Future Value | Present Value | Payment Period | Term of Annuity | Interest Rate | Conversion Period |
| $11,400.00 | 1 month | 13 years, 3 months | 9.3% | monthly |
The payment is $
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
