Question
A 14 year annuity pays $1,500 per month, and payments are made at the end of each of each month. The interest rate is 12
A 14 year annuity pays $1,500 per month, and payments are made at the end of each of each month. The interest rate is 12 percent compounded monthly for the first five years and a 9 percent compound monthly thereafter. What is the present value of the annuity?
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Fixed Income Markets And Their Derivatives
Authors: Suresh Sundaresan
3rd Edition
0123850517, 978-0123704719
