Question
What is the present value of a 30-year immediate annuity at 10% interest where the first payment is $100 and each payment thereafter is increased
What is the present value of a 30-year immediate annuity at 10% interest where the first payment is $100 and each payment thereafter is increased by 5%?
Answer: $1,504.63
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
