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Answer only question 4.16 please. Solve using excel or by hand. Bonus points for both! 4.15. A person pays $50,000 for an investment that promises
Answer only question 4.16 please. Solve using excel or by hand. Bonus points for both!
4.15. A person pays $50,000 for an investment that promises to pay a fixed amount of money at the end of each year for 15 years. If the rate of return is 8%, then what is the amount of the annual payments? 4.16. Repeat Problem 4.15 under the assumption that the payments are made at the beginning of each year rather than at the end of each yearStep by Step Solution
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