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the final payment? (Round your answer to the nearest cent.) Final payment $

the final payment? (Round your answer to the nearest cent.) Final payment $

Essentials Of Investments
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
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An annuity providing a rate of return of 4.8% compounded monthly was purchased for $ 47,200. The annuity pays $420 at the end of each month. e. What will be the amount of the final payment? (Round your answer to the nearest cent.) Final payment $
Transcribed Image Text:An annuity providing a rate of return of 4.8% compounded monthly was purchased for $ 47,200. The annuity pays $420 at the end of each month. e. What will be the amount of the final payment? (Round your answer to the nearest cent.) Final payment $
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