Question
There is a 10-year (10 annual payments) annuity due with the first payment occurring four years from now. If the current value is $5,000 and
There is a 10-year (10 annual payments) annuity due with the first payment occurring four years from now. If the current value is $5,000 and the APR rate is 12% compounded monthly, how much is the annual annuity payment?
a. $1,217
b. $1,258
c. $1,279
d. $1,288
e. $1,300
both manual way and BA II PLUS calculator
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De Gruyter Handbook Of Personal Finance
Authors: Grable, John E., Chatterjee, Swarn
1st Edition
3110727498, 978-3110727494
