An annuity-immediate has 32 payments of $500 per period. The effective rate of interest per period is 8% for the first 12 periods and 4% for the following 20 period (A) Find the accumulated value of the annuity. Round your answer to 2 decimal places. 35249.427 X (B) Find the present value of the annuity. Round your answer to 2 decimal places. 6875.87 X

Essentials Of Investments
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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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An annuity-immediate has 32 payments of $500 per period. The effective rate of interest per period is 8% for the first 12 periods and 4% for the following 20 periods
(A) Find the accumulated value of the annuity. Round your answer to 2 decimal places.
35249.427
X
(B) Find the present value of the annuity. Round your answer to 2 decimal places.
6875.87
X
Transcribed Image Text:An annuity-immediate has 32 payments of $500 per period. The effective rate of interest per period is 8% for the first 12 periods and 4% for the following 20 periods (A) Find the accumulated value of the annuity. Round your answer to 2 decimal places. 35249.427 X (B) Find the present value of the annuity. Round your answer to 2 decimal places. 6875.87 X
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