. Determine the present value of an ordinary simple annuity that pays $400 for 7 years at .3% per year compounded monthly. a. $39 123.64 b. $82 657.79 c. $28 970.12 d. $103.81
. Determine the present value of an ordinary simple annuity that pays $400 for 7 years at .3% per year compounded monthly. a. $39 123.64 b. $82 657.79 c. $28 970.12 d. $103.81
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:2. Determine the present value of an ordinary simple annuity that pays $400 for 7 years at
4.3% per year compounded monthly.
a. $39 123.64
b. $82 657.79
c. $28 970.12
d. $103.81
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