you have a 12-year annuity paying $496 quarterly in 10 years when interest is 6.65% compounded semi-annually, what is the number of annuity payments? Treat the deferred annuity as an ordinary annuity with the first annuity payment at the 10-year mark

you have a 12-year annuity paying $496 quarterly in 10 years when interest is 6.65% compounded semi-annually, what is the number of annuity payments? Treat the deferred annuity as an ordinary annuity with the first annuity payment at the 10-year mark

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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If you have a 12-year annuity paying $496 quarterly in 10 years when interest is 6.65% compounded semi-annually, what is the number of annuity payments? Treat the deferred annuity as an ordinary annuity with the first annuity payment at the 10-year mark

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