An annuity will make a payment every two months, starting two months from now. If the yield rate is 5.4 percent effective and the annuity will make 34 payments of 1370 dollars each, what is the price of the annuity? dollars. Answer =
An annuity will make a payment every two months, starting two months from now. If the yield rate is 5.4 percent effective and the annuity will make 34 payments of 1370 dollars each, what is the price of the annuity? dollars. Answer =
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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