Question
A payment of $11,400 is to be made every year for 13 years, the first payment occurring in one years time. The interest rate is
A payment of $11,400 is to be made every year for 13 years, the first payment occurring in one years time. The interest rate is 5%. What is the PV of the annuity. Show your working using both the formula approach and the annuity table approach.
Give all steps with full calculations.
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Pricing And Hedging Financial Derivatives A Guide For Practitioners
Authors: Leonardo Marroni, Irene Perdomo
1st Edition
1119953715, 978-1119953715
