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Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Future Value Interest Rate
Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Future Value Interest Rate Periodic Payment $2300 Payment Interval 6 months Compounding Period quarterly $38,500 4% The term of the annuity is year(s) and month(s). In what period of time could you pay back a loan of $3800 by making quarterly payments of $300 if interest is 9.9% compounded semi-annually? State your answer in years and months (from 0 to 11 months). It would take year(s) and month(s) to pay back the loan
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