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2) An annuity pays $500 at the start of each quarter for 5 years. The rate of interest is a start nominal 8% per year
2) An annuity pays $500 at the start of each quarter for 5 years. The rate of interest is a start nominal 8% per year compounded monthly. What is the present value of this annuity?
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
