Question
What is the accumulated sum of the following stream of payments? $26,335 every year at the beginning of the year for 15 years, at 8.20
What is the accumulated sum of the following stream of payments? $26,335 every year at the beginning of the year for 15 years, at 8.20 percent, compounded annually. Please explain how you got the answer with steps.
The answer I have is 785,741.56 but don't know how they got it!
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Financial Management Principles And Applications
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
10th Edition
0131450654, 9780131450653
