Question
What is the present value of an eight-year annuity of $1,200 growing at a rate of 4% if the interest rate is 10% and the
What is the present value of an eight-year annuity of $1,200 growing at a rate of 4% if the interest rate is 10% and the first payment is made at the end of the year?
Please can I have the formula to this equation, with a detailed explanation to derive the answer without using excel.
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Fundamentals Of Financial Management
Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston
11th Edition
1111795207, 9781111795207
