A 15-year annuity pays 1550 per month and payments are made, Ask an Expert

Finance

A 15-year annuity pays $1,550 per month, and payments are made at the end of each month.

If the interest rate is 9 percent compounded monthly for the first eight years, and 7 percent compounded monthly thereafter, what is the present value of the annuity?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92751895

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