Question
Jill purchases an annuity that pays $1,000 per month for the next 300 months, with no value at the end of the 300 months (FV=0).
Jill purchases an annuity that pays $1,000 per month for the next 300 months, with no value at the end of the 300 months (FV=0). If interest rates are 12% APR, what is the fair PV of this annuity if it is an annuity due (i.e. the first payment is made immediately)?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
