Question
It is reported that the present value of an annuity paying $1,000 at the end of each year for Y years is $14,576.25, and
It is reported that the present value of an annuity paying $1,000 at the end of each year for Y years is $14,576.25, and the present value of an annuity paying $300 each year for four years is $1,067.11. Find the present value of an annuity paying $700 at the end of each two years for Y years. (Round your answer to the nearest cent.) $ 4351.25
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
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