Question
A divorced man must make a $1500 payment at the end of each quarter for child support until his daughter turns 18. The present value
A divorced man must make a $1500 payment at the end of each quarter for child support until his daughter turns 18. The present value of this annuity is the amount that must be deposited today that will generate the needed payments. If the interest rate is 6% and the kid has her 9th birthday today, what is the amount needed?
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
7th Edition
0324171730, 978-0324171730
