You just received your tax refund of $10,000.00 and you invest it in an annuity that pays 6.6%, compounded monthly. If you withdraw the money at the beginning of each month for the next 1 year(s). How much will each payment be? The payment would be $. (Round to 2 decimal places.)
You just received your tax refund of $10,000.00 and you invest it in an annuity that pays 6.6%, compounded monthly. If you withdraw the money at the beginning of each month for the next 1 year(s). How much will each payment be? The payment would be $. (Round to 2 decimal places.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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You just received your tax refund of $10,000.00 and you invest it in an
The payment would be $. (Round to 2 decimal places.)
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