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Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $18,000; quarterly payments for 18 years; interest rate 7.6% The payment should be $ (Do not round until the final answer. Then round to the nearest cent as needed.) P

Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $18,000; quarterly payments for 18 years; interest rate 7.6% The payment should be $ (Do not round until the final answer. Then round to the nearest cent as needed.) P

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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K Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $18,000, quarterly payments for 18 years; interest rate 7.6% The payment should be $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:K Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $18,000, quarterly payments for 18 years; interest rate 7.6% The payment should be $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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