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
|
| $13,500
| $2500
| 1 year
| 5.85%
| monthly
|
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Financial Management Principles And Practice
Authors: Timothy Gallagher
6th Edition
1930789157, 978-1930789159
