An annuity purchased for $195,000 pays $6,000 at the end of every quarter. How long will the payments continue if the funds earn 5% compounded semiannually? (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) It will be years/ months

An annuity purchased for $195,000 pays $6,000 at the end of every quarter. How long will the payments continue if the funds earn 5% compounded semiannually? (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) It will be years/ months

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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