Question
A 10-year annuity pays $2,000 per month, and payments are made at the end of each month. If the interest rate is 12 percent compounded
A 10-year annuity pays $2,000 per month, and payments are made at the end of each month. If the interest rate is 12 percent compounded monthly for the first five years, and 8 percent compounded monthly thereafter, what is the present value of the annuity?
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Fundamentals Of Futures And Options Markets
Authors: John C. Hull
7th Edition
0136103227, 9780136103226
