Question
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the future value of the annuity after 13 yr is $60,000, what was the size of each payment? (Round your answer to the nearest cent.)
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Public Finance Theory And Practice
Authors: M. Marlow
1st Edition
0030969603, 978-0030969607
