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1.You want to have an annuity that provides $18,000 at the end of each year for 15 years. However, the first payment will not occur
1.You want to have an annuity that provides $18,000 at the end of each year for 15 years. However, the first payment will not occur until 16 years from today. How much is the annuity worth? Assume i(1)=10.2%.
2.A company borrows $25,000 and agrees to make semi-annual payments for 8 years. If rates are i(2)=2.8%,what are the semi-annual payments?
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