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a) Under a company savings plan, a worker contributes $250 a month to an ordinary annuity paying 6%, compounded monthly. Calculate the annuity's worth in
| a) Under a company savings plan, a worker contributes $250 a month to an ordinary annuity paying 6%, compounded monthly. Calculate the annuity's worth in 35 years. |
| b) You are planning to buy a car in 3 years. So you pay $250 each month into an account that pays 4% annual interest, compounded monthly. Find the present value of the annuity. |
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Applications In Energy Finance
Authors: Christos Floros, Ioannis Chatziantoniou
1st Edition
3030929566, 978-3030929565
