Question
You will receive a series of 15 annual payments of $ 1,000. The first of these payments begins in 5 years. The annual effective interest
You will receive a series of 15 annual payments of $ 1,000. The first of these payments begins in 5 years. The annual effective interest rate is 5.5%. The present value of this series of equal payments is:
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Financial Markets And Institutions A Modern Perspective
Authors: Anthony Saunders, Marcia Millon Cornett, Marcia Cornett
2nd Edition
007294109X, 978-0072941098
