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3 Annuity payments are assumed to come at the end of each payment period (termed an ordinary annulity) However, an exception occurs when the annuity

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Annuity payments are assumed to come at the end of each payment period (termed an ordinary annulity) However, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due) What is the future value of a 11-year.annulty of $2,400 per period where payments come at the beginning of each period? The: interest rate is 14 percent. Use:ARpendix C. For an approximate answer, but calculate your final answer using the formula and financial calculator methods. To find the future value of an annuity due when using the Appendix rables, add 1 to n and subtract 1 from the tabular value. For example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to Appendix C for n=6 and i=10 percent. Look up the value of 7716 and subtract 1 from it for an answer of 6.716 or $671.60($1006.716) Note: Do not round intermediate calculations. Round your final answer to 2 decimal places

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