Question
Kyle plans to receive a monthly annuity of $1514 for the next 28 years as part of his inheritance. The interest rate is 9.27 per
Kyle plans to receive a monthly annuity of $1514 for the next 28 years as part of his inheritance. The interest rate is 9.27 per annum compounded monthly. Calculate the present value (PV) of this annuity.
Group of answer choices
$1,959.87
$653.29
$1.29
$1,514.00
$163.32
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Creating Financial Value A Guide For Senior Executives With No Finance Background
Authors: Malcolm Allitt
1st Edition
1472922719, 978-1472922717
