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A 5-year annuity of ten $12,000 semiannual payments will begin 10 years from now, with the first payment coming 10.5 years from now. a. If
| A 5-year annuity of ten $12,000 semiannual payments will begin 10 years from now, with the first payment coming 10.5 years from now. |
| a. | If the discount rate is 6 percent compounded monthly, what is the value of this annuity 6 years from now? |
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| b. | What is the current value of the annuity? |
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Fundamentals Of Financial Institutions Management
Authors: Marcia Cornett, Anthony Saunders
1st Edition
0256253676, 9780256253672
