Note: Do not round intermediate calculations. Round your answer to the nearest ce $ CA Amount of payment uity 3,300 > Answer is complete but not entirely correct. Payment payable Annually Years 3 Interest rate LO 5 % Value of annuity due $ 9,436.06 X
Note: Do not round intermediate calculations. Round your answer to the nearest ce $ CA Amount of payment uity 3,300 > Answer is complete but not entirely correct. Payment payable Annually Years 3 Interest rate LO 5 % Value of annuity due $ 9,436.06 X
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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Question
answer with working , explanation , formula answer in text
Transcribed Image Text:Calculate the value of the annuity due without a table.
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
$
Amount of
payment
3,300
> Answer is complete but not entirely correct.
Payment
payable
Interest
rate
Annually
Years
3
5
%
Value of
annuity due
$
9,436.06 x
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