Question
An annuity with a cash value of $10,800 pays $1,990 at the beginning of every six months. The investment earns 6 % compounded semi-annually. (a)
An annuity with a cash value of $10,800 pays $1,990
at the beginning of every six months.
The investment earns 6 %
compounded semi-annually.
(a) How many payments will be paid?
(b) What is the size of the final annuity payment?
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Capital As Power
Authors: Jonathan Nitzan, Shimshon Bichler
1st Edition
0415496802, 978-0415496803
