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An investor buys an annuity with payments of principal and interest of $500 per quarter for 13 years. Interest is at the effective rate of
An investor buys an annuity with payments of principal and interest of $500 per quarter for 13 years. Interest is at the effective rate of 7% per annum How much interest does the investor receive in total over the 13-year period?
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 2
1119048478, 978-1119048473
