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A 5-year annuity of ten $6,000 semiannual payments will begin 8 years from now, with the first payment coming 8.5 years from now. Required :
| A 5-year annuity of ten $6,000 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 8 percent compounded monthly, what is the value of this annuity 3 years from now? |
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| |
| (b) | What is the current value of the annuity? |
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
8th Edition
0077261453, 978-0077261450
