Question
Find the present value at time 0 of a deferred annuity-immediate that has 17 annual payments of 600 each with the first payment happening 5
Find the present value at time 0 of a deferred annuity-immediate that has 17 annual payments of 600 each with the first payment happening 5 years from today if the annual effective rate of interest is 13%. Round to 2 decimal places. (Hint: Draw a time diagram. Where would 600a7 live on the time diagram?)
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Financial Markets And Institutions A Modern Perspective
Authors: Anthony Saunders, Marcia Millon Cornett, Marcia Cornett
2nd Edition
007294109X, 978-0072941098
