Question
A bank offers a 30-year annuity with monthly payments of $254 (the first payment comes in 1 month from today). If the discount rate is
A bank offers a 30-year annuity with monthly payments of $254 (the first payment comes in 1 month from today). If the discount rate is 4%, compounded monthly, how much should this annuity cost today? Round to two decimals.
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The Handbook Of Municipal Bonds
Authors: Frank J. Fabozzi, Sylvan G. Feldstein
1st Edition
0470108754, 9780470108758
