Question
A person pays 50000 for an investment that promises to pay a fixed amount of money at the beginning of each year for 15 years.
A person pays 50000 for an investment that promises to pay a fixed amount of money at the beginning of each year for 15 years. If the rate of return is 8% then what is the amount of annual payments?
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Business Mathematics
Authors: Gary Clendenen, Stanley A Salzman, Charles D Miller
12th Edition
0135109787, 9780135109786
