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6 Jan 2018
A nine-year annuity that makes 36 quarterly payments of $6,700 will begin 6 years from now with the first payment coming 6.25 years from now. If the discount rate is 4.5 percent compounded quarterly, what is the present value of the annuity?
A nine-year annuity that makes 36 quarterly payments of $6,700 will begin 6 years from now with the first payment coming 6.25 years from now. If the discount rate is 4.5 percent compounded quarterly, what is the present value of the annuity?
7 Jan 2018
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| 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.) |
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| c. | What is the current value of the annuity? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.) |
