n annuity pays $500 per year for 12 years beginning one year from today. What is th alue of the annuity immediately before the sixth $500 payment? Assume an interest AR.

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24. An annuity pays $500 per year for 12 years beginning one year from today. What is the remaining
value of the annuity immediately before the sixth $500 payment? Assume an interest rate of 2%
EAR.
Transcribed Image Text:24. An annuity pays $500 per year for 12 years beginning one year from today. What is the remaining value of the annuity immediately before the sixth $500 payment? Assume an interest rate of 2% EAR.
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