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Thanks for the help!! ind the future values of the following ordinary annuities. a. Payments of $600 every 6 months for 10 years at a
Thanks for the help!!
ind the future values of the following ordinary annuities. a. Payments of $600 every 6 months for 10 years at a nominal rate of 12%, compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. Payments of $300 every 3 months for 10 years at a nominal rate of 12%, compounded quarterly. Do not round intermediate calculations. Round your answer to the nearest cent. c. The annuities described in parts a and b have the same total amount of money paid into them during the 10-year period, and both eam interest at the same nominal rate, yet the annuity in part b earns more than the one in part a over the 10 years. Why does this occurStep by Step Solution
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