me term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 month Interest Rate 6.4% Present Value $16,000 Periodic Payment $1800 erm of the annuity is Payment Interval 1 year year(s) and month(s). Compounding Period quarterly ***

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).
Present
Value
$16,000
Interest
Rate
Compounding
Period
6.4%
quarterly
Periodic
Payment
$1800
et ||
Payment
Interval
1 year
The term of the annuity is year(s) and
month(s).
W
X
3
Time Remaining
3°C Partly cloudy
ㅅㄹ
Transcribed Image Text:Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Value $16,000 Interest Rate Compounding Period 6.4% quarterly Periodic Payment $1800 et || Payment Interval 1 year The term of the annuity is year(s) and month(s). W X 3 Time Remaining 3°C Partly cloudy ㅅㄹ
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