Suppose the interest rate is 6.4% APR with monthly compounding. What is the present value of an annuity that pays $95 every 6 months for 7 years? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Suppose the interest rate is 6.4% APR with monthly compounding. What is the present value of an annuity that pays $95 every 6 months for 7 years? (Note: Be careful not to round any intermediate steps less than six decimal places.)
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 7Q
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Suppose the interest rate is 6.4% APR with monthly compounding. What is the present value of an
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