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How can I solve this problem on a BA II Plus financial calculator? A 12-year annuity pays $2,500 per month, and payments are made at
How can I solve this problem on a BA II Plus financial calculator?
A 12-year annuity pays $2,500 per month, and payments are made at the end of each month. The interest rate is 9 percent compounded monthly for the first four years, and 7 percent compounded monthly thereafter. What is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present valueStep by Step Solution
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