
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Find the periodic payment for the following annuity due.
Future
Present
Value
Value
$12,600
Payment
Period
1 month
Term
7 years
CIT
Interest
Rate
9%
Conversion
Period
semi-annually
The periodic payment is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as
needed.)
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