Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).PresentPeriodicРаymentInterestCompoundingValueРaymentIntervalRatePeriod$13,500$2500six months3.55%monthlyThe term of the annuity isyear(s) andmonth(s).

Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Periodic Payment Interest Compounding Value Payment Interval Rate Period $13,500 $2500 six months 3.55% monthly The term of the annuity is year(s) and |month(s).

Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Periodic Payment Interest Compounding Value Payment Interval Rate Period $13,500 $2500 six months 3.55% monthly The term of the annuity is year(s) and |month(s).

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 20E

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Question

Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).
Present
Periodic
Раyment
Interest
Compounding
Value
Рayment
Interval
Rate
Period
$13,500
$2500
six months
3.55%
monthly
The term of the annuity is
year(s) and
month(s).

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