Question
Allen deposites into the bank at the end of each year with the annual effective interest rate 7%. The payments amount start from $20, each
Allen deposites into the bank at the end of each year with the annual effective interest rate 7%. The payments amount start from $20, each payment thereafter decreases by $1 until reach $5, and then increases by $1 until reach $25. Calculate the present value of this annuity.
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The Ultra High Net Worth Bankers Handbook
Authors: Heinrich Weber, Stephan Meier
1st Edition
1905641753, 978-1905641758
