Question
An annual annuity-immediate pays $100 at the end of the first year. The last payment is at the end of the 20th year. Assuming an
An annual annuity-immediate pays $100 at the end of the first year. The last payment is at the end of the 20th year. Assuming an annual effective interest rate of 5%, calculate the present value of the annuity if
(a.) each subsequent payment is 3% greater than the preceding payment.
(b.) each subsequent payment is $20 greater than the preceding payment
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Foundations Of Real Estate Financial Modelling
Authors: Roger Staiger
2nd Edition
1138046183, 978-1138046184
