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A 1 7 - year annuity pays $ 1 , 4 0 0 per month, and payments are made at the end of each month.
A year annuity pays $ per month, and payments are made at the end of each month. The interest rate is percent compounded monthly for the first five years and percent compounded monthly thereafter.
What is the present value of the annuity?
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Probability For Risk Management
Authors: Matthew J. Hassett, Donald G. Stewart
2nd Edition
156698548X, 978-1566985482
