Question
Suppose the interest rate is 9.5 % APR with monthly compounding. What is the present value of an annuity that pays $ 85 every six
Suppose the interest rate is 9.5 % APR with monthly compounding. What is the present value of an annuity that pays $ 85 every six months for six years? (Note: Be careful not to round any intermediate steps less than six decimal places.
The present value of the annuity is $
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Applied Quantitative Finance
Authors: Härdle
3rd Edition
3662544857, 978-3662544853
