Find the accumulated value 16 years after the first payment is made of an annuity on which there are 6 payments of $850 each made at 2-year intervals. The nominal rate of interest convertible once every two months is 4.1%. A. $3228.88 B. $2018.05 C. $4036.1 D. $9225.37 E. $8072.2
Find the accumulated value 16 years after the first payment is made of an annuity on which there are 6 payments of $850 each made at 2-year intervals. The nominal rate of interest convertible once every two months is 4.1%. A. $3228.88 B. $2018.05 C. $4036.1 D. $9225.37 E. $8072.2
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Find the accumulated value 16 years after the first payment is made of an
A. $3228.88
B. $2018.05
C. $4036.1
D. $9225.37
E. $8072.2
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