Question
(a) What is the future value of a 4-year ordinary annuity (recall that ordinary annuities have end of year cash flows) of $1,200 if the
(a) What is the future value of a 4-year ordinary annuity (recall that ordinary annuities have end of year cash flows) of $1,200 if the appropriate interest rate is 7.5
(b) What is the present value of the annuity?
(c) What would the future and present values be if this annuity were an annuity due
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
