Question
You manage an investment fund that sells annuities. You sell a 8-year ordinary level annuity that makes monthly payments of $2,419 per month, starting next
You manage an investment fund that sells annuities. You sell a 8-year ordinary level annuity that makes monthly payments of $2,419 per month, starting next month. If interest rates are 3.79% APR (compounded monthly) what is the current price of this annuity?
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
