Question
An annuity with a cash value of $13,500 earns 7% compounded semi-annually. End-of-period semi-annual payments are deferred for 7 years, and then continue for 8
An annuity with a cash value of $13,500 earns 7% compounded semi-annually. End-of-period semi-annual payments are deferred for 7 years, and then continue for 8 years. How much is the amount of each payment?
Answer: Each payment is $ _1806.86___
NOTE*: i would like to know how to get to that answer through a financial calculator in BGN MODE.
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Governance Of Financial Management
Authors: John Carver, Miriam Carver
1st Edition
0470392541, 9780470392546
