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A 15-year annuity of thirty $7,000 semiannual payments will begin 8 years from now, with the first payment coming 8.5 years from now. Required :
| A 15-year annuity of thirty $7,000 semiannual payments will begin 8 years from now, with the first payment coming 8.5 years from now. |
| Required : | |
| (a) | If the discount rate is 9 percent compounded monthly, what is the value of this annuity 2 years from now? |
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| |
| (b) | What is the current value of the annuity? |
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Research Methods Statistics and Applications
Authors: Kathrynn A. Adams, Eva Marie K. Lawrence
1st edition
1452220182, 978-1452220185
