Question
20 years ago you began making BEGINNING of every second month (i.e. six times per year) payments of $1300 into a secretive account in the
20 years ago you began making BEGINNING of every second month (i.e. six times per year) payments of $1300 into a secretive account in the Cayman islands that earns 3% compounded semiannually. Today you have decided to allow the money to sit and earn 5% interest compounded quarterly for 15 years after which you plan to purchase a 16-year annuity that pays out at the END of quarter and earns 7% interest compounded monthly. How large are your weekly payments?
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Assuming you are referring to an ordinary annuity th...
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Bank Management
Authors: Timothy W. Koch, S. Scott MacDonald
8th edition
1133494684, 978-1305177239, 1305177231, 978-1133494683
