Question
QUESTION 27 Based on the following information please calculate the payment the financial contract will make. This type of contract is known as an annuity.
QUESTION 27
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Based on the following information please calculate the payment the financial contract will make. This type of contract is known as an annuity. It makes equal payments over its life. The price or amount you pay for the annuity is the present value in the Excel formula. Your answer must be accurate to two decimal places. Do not use $ sign in your answer. Enter only number in format 7,342.21
interest rate
7%
number of periods
60.00
present value
-$20,000.00
future value
0
payments made at end of the year
0
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Behavioral Finance And Investor Types
Authors: Michael M. Pompian
1st Edition
1118011503, 978-1118011508
