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Find the term of the following ordinary general annuity State your answer in years and months (from 0 to 11 months). Present Value $8700 Interest Rate Compounding Period 11% annually Periodic Payment $345 Payment Interval month. The term of the annuity is year(s) and month(s)

Find the term of the following ordinary general annuity State your answer in years and months (from 0 to 11 months). Present Value $8700 Interest Rate Compounding Period 11% annually Periodic Payment $345 Payment Interval month. The term of the annuity is year(s) and month(s)

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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Find the term of the following ordinary general annuity State your answer in years and months (from 0 to 11 months). Present Value $8700 Interest Compounding Period Rate 11% annually Periodic Payment $345 Payment Interval month. The term of the annuity is year(s) and month(s) 2
Transcribed Image Text:Find the term of the following ordinary general annuity State your answer in years and months (from 0 to 11 months). Present Value $8700 Interest Compounding Period Rate 11% annually Periodic Payment $345 Payment Interval month. The term of the annuity is year(s) and month(s) 2
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