An investor wants to save money to purchase real estate. She buys an annuity with monthly payments that earn 5.4% interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in 18 years if each monthly payment is 60 pesos. Do not round any intermediate

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.