Question
A 30-year annuity has end-of-month payments. The first year the payments are $120 each. In subsequent years the monthly payment increases by $5 over what
A 30-year annuity has end-of-month payments. The first year the payments are $120 each. In subsequent years the monthly payment increases by $5 over what it was the previous year.
Find the accumulated value of this annuity if AEIR=3%
| A. | 105,070 | |
| B. | 100,620 | |
| C. | 41,560 | |
| D. | 84,820 | |
| E. | 42,390 |
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Computational Intelligence In Economics And Finance Volume II
Authors: Paul P. Wang, Tzu-Wen Kuo
2007th Edition
3540728201, 978-3540728207
