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
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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

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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