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What is the uniform annual payment for 12 years is equivalent to the above payment if the interest rate is 8%? Enter your answer as follow: 123456

What is the uniform annual payment for 12 years is equivalent to the above payment if the interest rate is 8%? Enter your answer as follow: 123456

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
Problem 1PS
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You expect to receive the following: $2,822 at the end of each year for 12 years $16,002 today $4,408 at the end of year 6 $1,532 at the end of each year forever $8,162 at the end of 15 years What is the uniform annual payment for 12 years is equivalent to the above payment if the interest rate is 8%? Enter your answer as follow: 123456
Transcribed Image Text:You expect to receive the following: $2,822 at the end of each year for 12 years $16,002 today $4,408 at the end of year 6 $1,532 at the end of each year forever $8,162 at the end of 15 years What is the uniform annual payment for 12 years is equivalent to the above payment if the interest rate is 8%? Enter your answer as follow: 123456
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