Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Janice and Terry Van Dyke have decided to establish a quarterly ordinary annuity of $2,000 for the next ten years at 12% annual interest compounded quarterly. How
much should they invest in a lump sum now to provide the stream of payments?
Click the icon to view the present value of a $1.00 ordinary annuity table.
They should invest $
(Round to the nearest cent as needed.)
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Transcribed Image Text:Janice and Terry Van Dyke have decided to establish a quarterly ordinary annuity of $2,000 for the next ten years at 12% annual interest compounded quarterly. How much should they invest in a lump sum now to provide the stream of payments? Click the icon to view the present value of a $1.00 ordinary annuity table. They should invest $ (Round to the nearest cent as needed.)
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