anielle receives $7,500 at the end of every quarter for 5 years for money that she loaned to a friend at 3.08% compounded quarterly. a. What type of annuity is this? a.Ordinary simple annuity b.Ordinary general annuity c.Simple annuity due d.General annuity due b. How many payments are there in this annuity? Round up to the next paymen

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Danielle receives $7,500 at the end of every quarter for 5 years for money that she loaned to a friend at 3.08% compounded quarterly.

a. What type of annuity is this?

a.Ordinary simple annuity

b.Ordinary general annuity

c.Simple annuity due

d.General annuity due

b. How many payments are there in this annuity?

 

Round up to the next payment 

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