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At the end of each month for the next ten years you will receive cash flows of $75. If the interest rate is 7.2%, compounded
At the end of each month for the next ten years you will receive cash flows of $75. If the interest rate is 7.2%, compounded monthly (i.e., the APR is 7.2%), what is the purchase price for the annuity?
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Personal Finance
Authors: Jeff Madura
7th Edition
0134989961, 978-0134989969
