A 13-year annuity pays 3400 per month and payments are made, Ask an Expert

Management Studies

A 13-year annuity pays $3,400 per month, and payments are made at the end of each month. The interest rate is 8 percent compounded monthly for the first eight years, and 6 percent compounded monthly thereafter. Required: What is the present value of the annuity?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M91260128

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