Find the accumulated value 28 years after the first payment is made of an annuity on which there are 5 payments of $250 each made at four-year intervals. The nominal interest rate convertible semiannually is 5%. Round your answer to two decimal places.
Find the accumulated value 28 years after the first payment is made of an annuity on which there are 5 payments of $250 each made at four-year intervals. The nominal interest rate convertible semiannually is 5%. Round your answer to two decimal places.
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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Transcribed Image Text:Find the accumulated value 28 years after
the first payment is made of an annuity
on which there are 5 payments of $250
each made at four-year intervals. The
nominal interest rate convertible
semiannually is 5%. Round your answer
to two decimal places.
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