Question
An 8-year annuity due has a future value of R1 000.If the interest rate is 5%p.a., the amount of each annuity payment is closest to
An 8-year annuity due has a future value of R1 000.If the interest rate is 5%p.a., the amount of each annuity payment is closest to which of the following?
a)R104.72
b)R99.74
c)R147.36
d)R109.39
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
11th edition
9781259278617, 77861647, 1259278611, 978-0077861643
