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You purchased an annuity in which you deposit $100 a week at a fixed rate of 4% interest. What formula would you use to calculate its value at the end of 10 years? a = PMT(04/12, 12 120, 100) b. = FV * (04/12, 520, 100) c. = FV (.04/12, 10 * 52, -100) d = PMT(04/12, 12 120,,100)

You purchased an annuity in which you deposit $100 a week at a fixed rate of 4% interest. What formula would you use to calculate its value at the end of 10 years? a = PMT(04/12, 12 120, 100) b. = FV * (04/12, 520, 100) c. = FV (.04/12, 10 * 52, -100) d = PMT(04/12, 12 120,,100)

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 purchased an annuity in which you deposit $100 a week at a fixed rate of 4% interest. What formula would you use to calculate its value at the end of 10 years? a = PMT(04/12, 12 120, 100) b. = FV * (04/12, 520, 100) c. = FV (.04/12, 10 * 52, -100) d = PMT(04/12, 12 120,,100)
Transcribed Image Text:You purchased an annuity in which you deposit $100 a week at a fixed rate of 4% interest. What formula would you use to calculate its value at the end of 10 years? a = PMT(04/12, 12 120, 100) b. = FV * (04/12, 520, 100) c. = FV (.04/12, 10 * 52, -100) d = PMT(04/12, 12 120,,100)
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