Question
An annuity pays $600 each quarter for eight years. At the end of the eight years, the annuity holder receives a lump sum payment of
An annuity pays $600 each quarter for eight years. At the end of the eight years, the annuity holder receives a lump sum payment of $10,000. How much would you pay for this annuity today at a discount rate of 4.5% APR compounded quarterly?
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Affordable Housing Finance
Authors: K. Hawtrey
2009th Edition
0230555187, 978-0230555181
