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Problem 9-27 Annuity due (L09.4) Annuity payments are assumed to come at the end of each payment period (termed an ordinary annulty). However, an exception

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Problem 9-27 Annuity due (L09.4) Annuity payments are assumed to come at the end of each payment period (termed an ordinary annulty). However, an exception occurs when the annuity payments come at the beginning of each period formed an annuity due). What is the future value of a 14-year annuity of $2,100 per period whore payments come at the beginning of each period? The interest rate is 13 percent Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. To find the future value of an annuity due when using the Appendix tables, add 1 to n and subtract 1 from the tabular value. For example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent go to Appendix Cfor n=6 and/= 10 percent. Look up the value of 7716 and subtract 1 from it for an answer of 6716 or $67160 ($100 *6.716). (Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Future value

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