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34 A 18-year annuity pays $2,000 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded
34
| A 18-year annuity pays $2,000 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly for the first six years and 10 percent compounded monthly thereafter. |
| What is the present value of the annuity? |
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Personal Finance
Authors: Megan Noel, Dan French
2nd Edition
1465246479, 9781465246479
