Eric Coleman invested $2500 four times a year in an annuity due at Southern Trust Company for a period of 4 years at an interest rate of 12% compounded quarterly. Using the ordinary annulty table, calculate the total value of the annuity due at the end of the 4-year period.
Eric Coleman invested $2500 four times a year in an annuity due at Southern Trust Company for a period of 4 years at an interest rate of 12% compounded quarterly. Using the ordinary annulty table, calculate the total value of the annuity due at the end of the 4-year period.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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