Question
A 20-year annuity pays $1,800 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded
A 20-year annuity pays $1,800 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity?
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Financial Management Principles And Practices
Authors: Timothy J. Gallagher
9th Edition
1954156103, 978-1954156104
