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find the payment that should be used for the annuity due whose future valueis given ....

find the payment that should be used for the annuity due whose future valueis given . assume that the compounding period is the same as the payment period. 14,000; quarterly payments for 10 years; interest rate 6.9%
the payment should be

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Answer #1

for annuity due formula is

FV=14000

PMT=?

r=6.9% = 0.069

n=4 for quarterly payment

t=10 years

....................answer

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