Suppose the interest rate is 6.9% APR with monthly compounding. What is the present value of an annuity that pays $105 every three months for four years? (Note: Be careful not to round any intermediate steps less than six decimal places) The present value of the annuity is $ (Round to the nearest cent)

Suppose the interest rate is 6.9% APR with monthly compounding. What is the present value of an annuity that pays $105 every three months for four years? (Note: Be careful not to round any intermediate steps less than six decimal places) The present value of the annuity is $ (Round to the nearest cent)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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