he present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) Present value = $13,000, and the interest rate is 6.6% compounded monthly for 8 years.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.)

Present value = $13,000, and the interest rate is 6.6% compounded monthly for 8 years. 
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