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Calculate the present value of an annuity of $3,000 per month starting in 6 months' time and continuing for 5 years where the interest rate
Calculate the present value of an annuity of $3,000 per month starting in 6 months' time and continuing for 5 years where the interest rate is 12% per annum convertible monthly.
A. $134,865.12
B. $128,319.53
C. $245,009.01
D. none of the given answers
B. $128,319.53
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
9th Edition
0134519264, 9780134519265
