Question
Consider an ordinary annuity that makes equal semiannual payments. The first payment will be made in one semiannual period from today and it makes its
Consider an ordinary annuity that makes equal semiannual payments. The first payment will be made in one semiannual period from today and it makes its last payment 10 years from today. The interest rate is currently 3.27%. Find the payment size if the value of the annuity is currently $887.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
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American Public School Finance
Authors: William Owings, Leslie Kaplan
2nd Edition
1111838046, 978-1111838041
