Question
Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Value Periodic Payment
Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).
| Present Value | Periodic Payment | Payment Interval | Interest Rate | Compounding Period |
| $7800 | $250 | month | 7% | annually |
The term of the annuity is __ year(s) and __ month(s).
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
