Question
Calculate the term, expressed in years, of the following ordinary annuity. Present or future value ($) Payment interval Periodic payment Nominal interest rate (%) Compounding
Calculate the term, expressed in years, of the following ordinary annuity.
Present or future value ($)
Payment interval
Periodic payment
Nominal interest rate (%)
Compounding frequency
PV = 50,000
6 months
3874.48
3.88
Semiannually
Select one:
a. None of them
b. 8
c. 6
d. 6.6
e. 7.5 years
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Statistical Techniques For Analytical Review In Auditing
Authors: Kenneth W. Stringer, Trevor R. Stewart
1st Edition
047186076X, 978-0471860761
