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A 7-year annuity of fourteen $5,800 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now. The discount
A 7-year annuity of fourteen $5,800 semiannual payments will begin 9 years from now, with the first payment coming 9.5 years from now. The discount rate is 8 percent compounded monthly. |
a. | What is the value of this annuity five years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. | What is the value three years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
c. | What is the current value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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