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You have decided to purchase a house near the coast in order to spend your summer vacations there in the future. To fulfil such an
You have decided to purchase a house near the coast in order to spend your summer vacations there in the future. To fulfil such an investment, four years from now you will start paying a 16-year annuity of thirty $2,500 semi-annual payments. The first payment will be made after 3.5 years. What is the current value of the annuity if the discount rate is 6%?
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