Question
Consider an annuity that pays $30,000 every year for 20 years, and where the first payment will be made at the end of the year.
Consider an annuity that pays $30,000 every year for 20 years, and where the first payment will be made at the end of the year. Assume the bank quotes an APR of 5% monthly compounded. Calculate the future value of this annuity
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
6th Edition
150639681X, 978-1506396811
