1
answer
0
watching
971
views
28 Sep 2019
A 20-year annuity pays $1,950 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
| A 20-year annuity pays $1,950 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Patrina SchowalterLv2
28 Sep 2019
Related questions
| A five-year annuity of ten $5,900 semiannual payments willbegin 9 years from now, with the first payment coming 9.5 yearsfrom now. The discount rate is 8 percent compunded monthly. |
| a. | What is the value of this annuity five years from now?(Do not round intermediate calculations and round youranswer to 2 decimal places, e.g., 32.16.) |
| b. | What is the value three years from now?(Do not round intermediate calculationsand round your answer to 2 decimal places, e.g.,32.16.) |
| c. | What is the current value of the annuity? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.) |
