Question
The IF for the future value of an annuity is 4.5% at 8% for 4 years. If we wish to accumulate $5,000 by the end
The IF for the future value of an annuity is 4.5% at 8% for 4 years. If we wish to accumulate $5,000 by the end of 4 years, how much should the annual payments be?
A) 22,500
B) 1,250
C) 1,111
D) 2,250
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
