Suppose an annuity pays $2000 at the end of each 3 month period for 3.5 years at an interest rate of 4%, compounded quarterly a. find the total number of periods b. find the real interest rate per period c. find the present value (give the formula)
Suppose an annuity pays $2000 at the end of each 3 month period for 3.5 years at an interest rate of 4%, compounded quarterly a. find the total number of periods b. find the real interest rate per period c. find the present value (give the formula)
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Suppose an
a. find the total number of periods
b. find the real interest rate per period
c. find the
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