Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Value Periodic Payment Payment Interval Interest Rate Compounding Period $14,500 $2300 six months 3.5% annually 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 Periodic Payment Payment Interval Interest Rate Compounding Period $14,500 $2300 six months 3.5% annually The term of the annuity is year(s) and month(s)?
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 term of the following ordinary general
Value |
Periodic Payment |
Payment Interval |
Interest Rate |
Compounding Period |
$14,500 |
$2300 |
six months |
3.5% |
annually |
The term of the annuity is year(s) and month(s)?
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